Market Warms Up To Ukraine Crisis' End

The stock market today warmed up to a possible end to hostilities in Ukraine with the Philippine Stock Exchange index going up to 7,167 points, up by 51.93 points or 0.73 percent.

Photo Insert: The Philippine Stock Exchange (PSE) Index, March 30, 2022

Gainers were ahead of losers 106 to 81 with 44 shares unchanged and with value turnover above average at p6. 82 billion. Market bellwether SM Investments led gainers emerging most active stock with p717 million as it rose by p2 to p898.

All the sub-indices were in positive territory with services posting the biggest gain of 1.39 percent.

Mining and oil rose by 1.09 percent while the holding firms were up by 0.99 percent. Financials advanced by 0.23 percent, industrials by 0.43 percent, and property by 0.46 percent.

Converge was the second most active with trades of p461 million as it closed at p29.80 for a 60 centavo rise. BDO Unibank followed with p424 million as it gained a Peso to p133.

Investors cheered the possible end to the Ukraine crisis as both Russia and Ukraine negotiators appear to soften up their hard-line positions in the talks held in Istanbul and with both sides amenable to a temporary halt in war preparations.

Among the notable gainers were ICTSI, up p6 to p222, Ayala Land, up 35 centavo to p35. 60, Metropolitan Bank, up p1.25 to p55.65, Monde, up 14 centavos to p13.88, Wilcon Depot, up 10 centavos to p26.25, Ayala Corp, up p27 to p813, and GT Capital, up p19 to p546.

Solar Philippines lost 10 centavos to p1. 93, PLDT, down a Peso to p1,840, SM Prime, down 5 centavos to p37.90, Semirara Mining, down by 5 centavos to p30.45, and Bank of PI, down p1.50 to p98.50.

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