PSE Index Achieves Milestone Despite Volatile Trading

The Philippine Stock Exchange (PSE) index achieved a milestone today after a volatile trading session. Blue-chip stocks fluctuated, reaching lows before concluding the day higher, despite foreign investors being net sellers.

Photo Insert: The Philippine Stock Exchange (PSE) Index, December 5, 2023

The index gained 24.58 points, rising by 0.39 percent to 6,308.95 points.

In sector performance, services rose by 1.60 percent, property by 0.52 percent, and holding firms gained 0.19 percent, while financials lost 0.23 percent, industrial declined by 0.02 percent, and mining and oil decreased by 1.02 percent.

Total value turnover amounted to P4 billion, with 82 gainers, 94 losers, and 41 shares remaining unchanged.

Foreign buying totaled P1.787 billion, while foreign selling reached P1.969 billion, resulting in a net foreign selling of P182 million. The market experienced a decline at the recess but regained momentum to finish the day higher.

Shares witnessed notable fluctuations, with ICTSI closing at P228, up by P8.80, having reached a low of P218 and a high of P228.80. Market bellwether rose to a high of P834.50, dropped to a low of P821, and closed at P823.50, down by P1.50.

Other blue-chip stocks also saw declines before ending the day higher.

BDO Unibank reached a low of P130 before closing at its high point of P131.70, up by 20 centavos. Jollibee Foods closed at P245, up by P1, with trades ranging from P246.80 to P240.60, while SM Prime dipped to as low as P32.80 before rising to P33.35, its closing price, for a 30 centavo gain.

Ayala Land fluctuated between P31.65 and P30.65 before finishing at P31.05, representing a 5-centavo rise.

Among the gainers were Ayala Corp, up by P2 to P661; Global Ferronickel, the most active with trades of P413.8 million, up by 2 centavos to P2.34; Aboitiz Equity, up by P1.10 to P49; Puregold, up by 10 centavos to P27.70; Semirara Mining, up by 20 centavos to P29.20; Globe Telecom, up by P2 to P1,722; and PLDT, up by P6 to P1,276.

Among the losers were Metrobank, down by 95 centavos to P50.50; GT Capital, down by P6 to P552; ACEN Corp, down by 7 centavos to P4.69; Bloomberry, down by 5 centavos to P9.55; Dito CME, down by 8 centavos to P2.25; Converge, down by 20 centavos to P8.12; Philex Mining, down by 6 centavos to P3.10; and Apex Mining, down by 12 centavos to P2.86.

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