PSE Index Back To 7,000 Points

The Philippine Stock Exchange index today rose anew to its psychological milestone level although trading remained muted and below average for lack of an economic catalyst, finishing at 7,037.74 points, up 41.63 points or 0.60 percent.

Photo Insert: The Philippine Stock Exchange (PSE) Index, April 19, 2022

The mining and oil index and services sub-indices led the charge posting gains of 2.09 percent and 1.37 percent, respectively. Financials rose 0.56 percent, industrials by 0.83 percent, holding firms by 0.40 percent, and property by 0.06 percent.

Value turnover amounted to p5. 2 billion, still below average. There were 102 gainers indicating a quiet return of investors while there were 83 losers and 46 shares unchanged.

Converge emerged most active as it continued its gains with another 45 centavos to close at P30 on trades of p511.6 million followed by market bellwether SM Investments with a P492 million trades as it closed at P871, up by P6.50.

PLDT had trades of P360 million as it went up by P7 to p1, 899. CTS Global declined below its IPO price closing at 98 centavos, down by 13 centavos. Nickel Asia pushed up the mining and oil sub-index with a big gain of 5.42 percent to P8.17, up by 42 centavos.

Among the gainers were Jollibee, up P7. 60 to P228, GMA 7, up 18 centavos to P15.08, Globe, up P48 to P2,472, Ayala Corp, up P2 to P769, Monde, up 34 centavos to P13.06, AC Energy, up 7 centavos to P8.41, BDO Unibank up 40 centavos to P129. 80, SM Prime, up 10 centavos to P37.25, and Bank of PI, up P1.80 to P99.80.

There were four losers in the Top 20 active stocks and one unchanged, Metro Pacific, which closed at P3.88. Ayala Land was down by 10 centavos to P34, Metrobank, down by 50 centavos to P53.60, and Meralco, down by P6 to P357.

Analysts see a continued lack of enthusiasm in the market unless big economic stories crop up.

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