PSE Index Ekes Out Gain To End Month In The Green

The Philippine Stock Exchange (PSE) index Friday posted a small gain as traders recalibrated their holdings at the end of the month, doubling trade volume, with foreign trades accounting for a significant portion.

The Philippine Stock Exchange (PSE) Index, August 30, 2024

The sub-indices were evenly split, with the index closing at 6,897.54 points, up by 5.99 points or 0.09 percent.

Financials, industrials, and property posted gains of 0.30 percent, 0.60 percent, and 1.89 percent, respectively. Meanwhile, holding firms declined by 0.90 percent, services lost 0.92 percent, and mining and oil decreased by 0.44 percent.

The trades saw heightened fluctuations in share prices, with market bellwether SM Investments mirroring the market performance, closing at its lowest price point of P885, down by P19, but reaching a high of P910.

Value turnover amounted to P13.3 billion, with foreign trades of P18.28 billion as traders bought and sold positions. There was net foreign selling of P306 million on foreign buying of P8.98 billion and foreign selling of P9.29 billion.

The index experienced a roller-coaster ride, reaching a high of 6,930.42 points and a low of 6,881.40 points.

There were 104 gainers, 88 losers, and 56 shares unchanged. Among the gainers, Ayala Land emerged as the most active with P1.525 billion in trades, rising by 45 centavos to P35.30.

Other billion-peso traded stocks included ICTSI with P1.3 billion, SM Investments with P1.26 billion, and BDO Unibank with P1.16 billion. All three finished lower.

The gainers included Converge, Dito CME, Cebu Air, PAL, Bloomberry, Philweb, Wilcon Depot, Apex Mining, Atlas Mining, Oceana Gold, Oriental Petroleum, Metrobank, SM Prime, Citicore RT, Meralco, Manila Water, Petron, Semirara Mining, Synergy Grid, D&L Industries, Emperador, Ginebra, Jollibee Foods, Shakey's Pizza, JG Summit, San Miguel, AREIT, Alliance Global, DMC Holdings, and LT Group.

The losers included DigiPlus, Security Bank, Universal Robina, Ayala Corp., China Bank, First Gen, Shell Pilipinas, AgriNurture, Axelum, Monde Nissin, Roxas and Co., Universal Robina, PLDT, Globe Telecom, GT Capital, ABS-CBN, Nickel Asia, Haus Talk, Philodrill, Megawide, Aboitiz Equity, and Belle Corp.

Those unchanged included San Miguel Food and Beverage, PNB, ACEN Corp., Alternergy, SPNEC, Figaro Coffee, Philex Mining, and DoubleDragon.