PSE Index A Tad Higher

The Philippine Stock Exchange index today closed a tad higher after see-sawing in a narrow band as investors pocketed their gains while others hunted for bargains to close at 6,263.39 points, up by a smallish 7.22 points or 0.12 percent in a day marked by interest in tech stocks.

Photo Insert: The Philippine Stock Exchange (PSE) Index, July 22, 2022

Holding firms carried the day for the index as market bellwether SM Investments closed P14 higher to P788 though it too was in another up-and-down cycle during the day hitting a low of P774 and a high of P793.

This trading pattern has characterized much of the blue chips that included the most active stock, SM Prime, with trades of P258 million as it went through the see-saw pattern hitting a low of P35.70 and a high of P36.70 before ending the day at P36, 10 centavos down.

Ayala Land, meanwhile lost 60 centavos to close at P24.90 but not after going through a low of P24.70 and a high of P25.40.

Aside from the holding firms sub-index which went up by 0.76 percent, the other gainers were financials, up by 0.18 percent, and services which rose by 0.05 percent. Property lost 0.79 percent, industrials by 0.19 percent, and mining and oil by 1.40 percent.

Value turnover was almost half of average at P3.28 billion as the market failed to electrify the interest of investors.

Tech stocks, though, had hefty gains with Cirtek Holdings warrants rising 16.98 percent as it close 9 centavos higher to P0.62 on trades of 1.8 million while Ionics went up by 13.7 percent closing at 80 centavos, up by 10 centavos, and Integrated Micro, went up by 12.9 percent as it closed at P7 higher by 80 centavos.

Synergy Grid went down by 2 centavos to P12.18 as it is now ex-dividend, meaning buyers since two weeks ago are not entitled to the second quarter dividend of 26 centavos.

Among the gainers were ICTSI, up by P1.70 to P182.70, Monde, up by 16 centavos to P14.38, Metrobank up 30 centavos to P46.70, Wilcon Depot, up by 65 centavos to P23, BDO Unibank, up by 20 centavos to P121.20, and Universal Robina, up by P1.80 to P112.90.

The losers were Semirara Mining down by 75 centavos to P40.45, JG Summit down by 50 centavos to P51.50, Bank of PI down by 25 centavos to P88.75, Meralco down by 80 centavos to P354, Converge down 30 centavos to P20.50 and Emperador, down 24 centavos to P18.84.

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