Profit-Taking Halts Bull Run Of PSE Index

The Philippine Stock Exchange (PSE) index today declined on profit-taking to 7,014.04 points, a loss of 31.44 points or 0.45 percent.

Photo Insert: The Philippine Stock Exchange (PSE) Index, January 17, 2023

At one point, the index even went down below the 7,000-point milestone but recovered after hitting 6,952.79 points, indicating that the bullish sentiments remain the same.

Four of the sub-indices declined with the services up by 0.22 percent and property up by 1.12 percent. Financials lost 0.73 percent, industrials down by 1.33 percent, holding firms by 1.03 percent, and mining and oil dropped by 0.56 percent.

Market bellwether SM Investments went down by P14 or 1.48 percent to P933 as it emerged as the most active stock with trades of P663 million.

BDO Unibank was second most active with P656 million in trades as it closed a peso lower to P124.50 while SM Prime followed with trades of P650 million as it went up by 55 centavos to P38.30.

Ayala Land also rose by 35 centavos to P31.95 while Jollibee Foods and ICTSI posted gains with respective closing prices of P252, up by P4 and P211.20 up by P1.20.

Also up were PLDT, which gained P8 to P1,440, Ayala Corp, up by a peso to P769, and Metrobank up 65 centavos to P59.20. Emperador was unchanged at P20.35.

Among the losers were Bank of PI, down P2.10 to P110.30, Universal Robina, down P3.80 to P140.80, Meralco, down P9 to P291, Converge, down 26 centavos to P17.42, D.M. Consunji, down 30 centavos to P12.30, GT Capital, down P2.40 to P478. 60, and Metro Pacific was down 11 centavos to P3.90.

Value turnover amounted to p10. 1 billion with 77 gainers, 111 losers, and 38 shares unchanged.

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