PSE Index Above Support Level Despite Slight Skid

The Philippine Stock Exchange (PSE) index declined slightly today due to profit-taking, settling at 6,475.50 points, a loss of just 2.94 points or 0.05 percent.

The Philippine Stock Exchange (PSE) Index, December 18, 2023

Despite this, it remained above its support level of 6,400 points, and foreign investors were net buyers.

Ayala Land, the top-traded stock, hit a low of P32.85 before rebounding to P33.95, its highest price point for the day, ending a peso higher. A similar pattern occurred with the market bellwether SM Investments, which dropped to P886.50, reached a high of P919, and closed at P912.50 for a gain of P6.50.

Jollibee Foods gained 2.28 percent at the close, rising by P5.60 to P251.60, with a low of P243.40.

In terms of sectors, financials decreased by 0.89 percent, industrial by 0.95 percent, and holding firms by 0.55 percent. However, services increased by 1.19 percent, mining and oil by 0.14 percent, and property by 1.76 percent.

The value turnover amounted to P5.39 billion, with 100 gainers, 77 losers, and 46 shares unchanged. Foreign buying reached P2.627 billion, while foreign selling amounted to P2.002 billion, resulting in a net foreign buying of P625 million.

Among the gainers were ICTSI, up by P7 to P244, SM Prime, up by 50 centavos to P33.60, GT Capital, up by P5 to P565, Digiplus Interactive, up by 42 centavos to P7.32, Bank of the Philippine Islands, up by 60 centavos to P102.20, Robinsons Land, up by 18 centavos to P15.60, and ABS-CBN, up 58 centavos to P4.28.

On the losing side, Security Bank lost 15 centavos to P72.85, BDO Unibank, down by P3 to P126.90, Ayala Corp, down by P20 to P715, ACEN Corp, down by 13 centavos to P4.27, JG Summit down by 60 centavos to P40.40, and Aboitiz Equity, down by 90 centavos to P49.10.

Down, as well, was Metrobank, which slipped by 60 centavos to P50.35, Aboitiz Power, down by 10 centavos to P37.80, Semirara Mining, down by 30 centavos to P28.20, Emperador, down by 20 centavos to P20.70, Bloomberry, down by 14 centavos to P9.76, and Meralco, down by P10 to P375. Alliance Global remained unchanged at P10.10.

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