PSE Index Advances

The Philippine Stock Exchange (PSE) index advanced Monday on bargain hunting, closing at its highest price point of 6,742.89 points, up by 129.04 points or 1.95 percent.

The Philippine Stock Exchange (PSE) Index, December 2, 2024

All the sub-indices posted gains, with services leading the way, climbing 3.53 percent as ICTSI, PLDT, Globe Telecom, and DigiPlus rose substantially.

Holding firms followed with a 3.33 percent increase, driven by market bellwether SM Investments, which spearheaded the rise with a 4.91 percent gain, closing ₱43 higher at ₱918.

Financials increased by 0.16 percent, industrials by 0.61 percent, property by 0.76 percent, and mining and oil by 0.52 percent. There were 109 gainers, 80 losers, and 55 stocks unchanged.

Net foreign selling declined to ₱77 million, with foreign buying amounting to ₱2.402 billion and foreign selling at ₱2.479 billion.

However, value turnover remained muted, with just ₱4.6 billion in trades.

Among the gainers were BDO Unibank, Ayala Land, SM Prime, Ayala Corporation, DITO CME, ACEN Corporation, Asiabest, Steniel, China Bank, Alternergy, Meralco, Jollibee Foods, Nickel Asia, Oriental Petroleum, Puregold, GT Capital, Megaworld, GMA-7, Manila Water, Vitarich, Alliance Global, and AREIT.

Meanwhile, among the losers were MacroAsia, PNB, Union Bank, Petron, Semirara Mining, D&L Industries, Monde Nissin, Megawide, DoubleDragon, San Miguel, Cebu Air, and PAL.

Unchanged stocks included Aboitiz Power, Basic Energy, JG Summit, SPNEC, Belle Corporation, and Philex Mining.