PSE Index Rebounds To A Modest Rise

The Philippine Stock Exchange (PSE) index inched up Tuesday, buoyed by the rise in the services sub-index, which offset losses in four other sectors.

The Philippine Stock Exchange (PSE) Index, October 22, 2024

The index closed at 7,413.16 points, up by 6.53 points or 0.09 percent. The services sector rose by 1.21 percent, compensating for declines in financials (down by 0.50 percent), holding firms (down by 0.30 percent), mining and oil (down by 0.15 percent), and property (down by 0.41 percent).

The industrial sector gained 0.69 percent.

Port operator ICTSI rose by ₱9 to ₱417.40, while market bellwether SM Investments dropped by ₱6 to ₱956, as investors shifted their focus to second-liners such as Prime Media, Citystate Savings, and CEMEX Holdings.

The index experienced a volatile session, with a high of 7,452.74 and a low of 7,398.99 points.

Value turnover remained below average at ₱5.31 billion, with local investors contributing just ₱100 million. Foreign trades accounted for ₱5.2 billion. There was a net foreign selling of ₱16 million, with foreign buying at ₱2.620 billion and foreign selling at ₱2.636 billion.

There were 99 gainers and 94 losers, while 55 shares remained unchanged, including SPNEC, Fruitas Holdings, Ginebra, Apex Mining, Greenergy, DoubleDragon, PhilSeven, and Haus Talk.

Among the gainers were Bank of the Philippine Islands (BPI), Monde Nissin, Jollibee Foods, Universal Robina, Century Pacific Food, Vitarich, Aboitiz Equity, Converge, Boulevard Holdings, DigiPlus, Philex Mining, PLDT, GMA-7, Manila Water, Ayala Corporation, Axelum, PAL, Citicore REIT, ACEN Corporation, and Cosco Capital.

Among the losers were BDO Unibank, Ayala Land, Metrobank, Globe Telecom, JG Summit, Semirara Mining, PNB, Figaro Coffee, Megaworld, Bloomberry, DITO CME, First Gen, Megawide, LT Group, AREIT, Security Bank, San Miguel Corporation, and Robinsons Land.