PSE Index Stays On Track By Striking Milestone

The Philippine Stock Exchange (PSE) index rose to a milestone level today, reaching 6,705.01 points, up by 17.30 points or 0.26 percent.

The Philippine Stock Exchange (PSE) Index, July 18, 2024

This marks its third attempt to reach this level in two weeks, supported by net foreign buying.

Financials rose by 2.55 percent, industrials by 0.56 percent, and services went up by 0.26 percent, offsetting the losses in holding firms, which were down by 1.14 percent, property, lower by 0.64 percent, and mining and oil, which declined by 1.80 percent.

Net foreign buying contributed to the milestone rise in an otherwise uneventful trading day that saw a total volume of P4.6 billion, a decrease of one-fourth.

Foreign buying reached P2.695 billion, while foreign selling was P2.309 billion, resulting in net foreign buying of P385 million. There were 80 gainers, 89 losers, and 59 unchanged shares.

Market bellwether SM Investments closed lower by P21 to P902 but had a high of P914 and a low of P900.50 in volatile trading.

Ayala Land, the most active with P432 million, went down by 70 centavos to P30.95, with a low of P30.20 and a high of P31.15. SM Prime was unchanged at P29.80 but fluctuated to a high of P29.95 and a low of P29.35.

Among the gainers were BDO Unibank, Metrobank, Bank of the Philippine Islands, Nexgen, Security Bank, Union Bank, Haus Talk, Oriental Petroleum, Philodrill, ACEN Corp, D&L Industries, Monde Nissin, Jollibee Foods, Citicore RE, Meralco, Manila Water, Digi{Plus, JG Summit, Cebu Air, Globe Telecom, PLDT, Greenergy, Puregold, and LT Group.

The losers included ICTSI, PXP Energy, Bloomberry, OceanaGold, China Bank, Philex Mining, Converge, San Miguel, Cosco Capital, and Nickel Asia. Unchanged stocks were Belle Corp, Emperador, Figaro Coffee, Petron, Aboitiz Power, Alternergy, DMC Holdings, Megawide, and PAL.