PSE Index Back To Green Amidst Profit-Taking

The Philippine Stock Exchange (PSE) index inched up today as it recovered from earlier losses, ending the day at 6,305.99 points, up by just 1.46 points or 0.02 percent.

Photo Insert: The Philippine Stock Exchange (PSE) Index, October 3, 2023

Profit-taking set in after the market opened with a gain of more than 30 points, causing it to teeter below its 6,300-point level.

Half of the sub-indices registered losses, while the other half saw gains. Financials declined by 0.42 percent, holding firms by 0.47 percent, and property by 0.08 percent. On the positive side, industrials went up by 0.91 percent, services by 0.50 percent, and mining and oil by 3.19 percent.

Phoenix Petroleum led the industrials sector with a substantial 20.19 percent increase in its share price, closing at P6.31, up by 1.06, with trades amounting to P213 million. ICTSI also contributed to the sector's gains with a rise of P1.60 to P208.60.

Meanwhile, Universal Robina remained unchanged at P120.

Union Bank emerged as the most active stock with P1.91 billion in trades. The bank is set to exit the PSE index basket and closed at P64.95, up by P3.15. Nickel Asia, which will join the index basket, was the second most active stock with P823 million in trades, closing at P6.48, up by 63 centavos.

Bank of PI was the third most active stock with P437 million in trades, closing P2.30 lower at P109.

Foreign selling reached P881 million, with foreign buys amounting to P2.03 billion and foreign selling of P2.91 billion. Total value turnover was P5.94 billion, with 94 gainers, 103 losers, and 50 shares remaining unchanged.

Market bellwether SM Investments fell by P14 to P827, while Ayala Land declined by 30 centavos to P29.20. On the other hand, SM Prime posted a gain of 25 centavos, closing at P30.10.

Among the gainers were Bloomberry, up by 15 centavos to P10; Metrobank, up by 65 centavos to P54.35; JG Summit, up by 35 centavos to P38.05; Semirara Mining, up by 5 centavos to P35.65; Aboitiz Power, up by 55 centavos to P34.90; GT Capital, up by a peso to P587; ACEN Corp, up by 15 centavos to P5.16; Converge, up by 10 centavos to P9.58; Globe Telecom, up by P7 to P1,807; and Alternergy, up by a centavo to P0.85.

The losers included BDO Unibank, down by 40 centavos to P141; Jollibee Foods, down by 80 centavos to P227; Security Bank, down by P1.10 to P79.90; Philex Mining, down by 2 centavos to P2.59; Ayala Corp, down by P2 to P623; while Universal Robina and PLDT remained unchanged at P120 and P1,175, respectively.

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