PSE Index Begins The Year Up

The Philippine Stock Exchange (PSE) today opened 2023 on a bright note but on thin trade as investors remain risk-averse with the lack of optimistic fundamentals, to close at 6,586.01 points, up by 19.62 points or 0.30 percent.

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

Market bellwether SM Investments was unchanged at P900 with trades of P208.14 million, the third most active stock, hitting a high of P919 after opening at P900 and later closing back in what could be the portent of things to come.

BDO Unibank emerged as the most active stock, bucking the decline in the financials, which lost 0.10 percent, as it closed P2.20 higher to P107.90 on trades of P222.05 million. It was followed by ICTSI, which went down by P2 to P198 on trades of P208.3 million.

The other loser among the sub-indices was property, which went down by 1.08 percent.

Industrials went up by 2.09 percent, holding firms by 0.24 percent, services by 0.48 percent, and mining and oil by 3.87 percent. Value turnover amounted to P3.4 billion with 94 gainers, 89 losers, and 50 shares unchanged.

The market is seen to move sideways until the inflation numbers, set on January 5, crop up and government economic policies become clearer.

PLDT rose by P38 to P1,355, Globe Telecom went up by P40 to P2,220, Bloomberry gained 40 centavos to P8.05, ACEN Corp, up by 37 centavos to P7.99, D&L Industries, by 17 centavos to P8.07, Meralco, by P3 to P301.80, Nickel Asia, by 35 centavos to P6.19, and Metrobank by P1.30 to P55.30.

The losers included SM Prime, which was down by 45 centavos to P35.05, Ayala Land, by 40 centavos to P30.40, Bank of PI, by P4 to P98, Ayala Corp by P7.50 to P687.50, and Universal Robina down by P1.10 to P134.90.

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