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  • Writer's pictureBy The Financial District

PSE Index Back Up

The Philippine Stock Exchange (PSE) index gained traction today, with investors anticipating a Christmas rally as foreign investors once again became net buyers.

The Philippine Stock Exchange (PSE) Index, December 4, 2023

Although the volume turnover was muted, with some shares declining in mid-trade due to profit-taking, the index closed 39.19 points higher at 6,284.37 points, up by 0.63 percent.

All the sub-indices were in the green, with mining and oil posting the biggest gain on a rise in gold prices amid the resumption of hostilities in the Gaza area. Mining and oil rose by 2.28 percent, bolstered by the surge in the share prices of Philex Mining, Apex Mining, Atlas Mining, and Semirara Mining.

Philex reached as high as P3.19 before profit-taking set in, ending the day 6 centavos higher at P3.16, a gain of 1.94 percent.

Apex Mining rose by 10 centavos to P2.98, up by 3.47 percent, although it hit a high of P3.00, while Atlas Mining went up by 6 centavos to P3.56, up 1.71 percent. Semirara rose by 45 centavos to P1.58.

All the news: Business man in suit and tie smiling and reading a newspaper near the financial district.

Financials increased by 0.94 percent, industrial by 0.97 percent, property by 0.21 percent, holding firms by 0.52 percent, and services by 0.24 percent.

Value turnover amounted to P3.7 billion, with 83 gainers, 91 losers, and 46 shares unchanged. Foreign buying amounted to P2.381 billion, while foreign selling reached P2.094 billion, resulting in net buying of P287 million.

Market & economy: Market economist in suit and tie reading reports and analysing charts in the office located in the financial district.

Market bellwether SM Investments emerged as the most active with P383 million, closing at P825, unchanged although it reached a high of P832 after opening P2 lower and a low price of P821.

Among the gainers were BDO Unibank, up by 50 centavos to P131.50, Jollibee Foods up by P10.20 to P244, ICTSI up by 20 centavos to P220, Bank of PI up by P1.20 to P105.70, Solar Philippines up by 4 centavos to P1.21, Universal Robina up by 90 centavos to P114, Robinsons Land up by 44 centavos to P15, and SM Prime up by 5 centavos to P33.05, although it reached a high of P33.50.

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