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  • Writer's pictureBy The Financial District

PSE Index Breaches Milestone Level

The Philippine Stock Exchange (PSE) index achieved a significant milestone today, closing just slightly higher as the sub-indices recorded mixed performances, ultimately ending the day with a gain of 5.79 points or 0.08 percent, reaching 6,903.15 points.

The Philippine Stock Exchange (PSE) Index, January 3, 2024

Although the index peaked at 6,922.50 points during the session, profit-taking activities led to a mixed performance across various sectors.

Holding firms, property, and mining and oil sectors experienced gains of 0.67 percent, 0.33 percent, and 0.14 percent, respectively, while financials saw a decline of 0.45 percent, and industrial and services sectors were down by 0.13 percent and 0.30 percent, respectively.

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

Metrobank emerged as the most actively traded stock with transactions totaling P597 million, recording a gain of P1.35 or 2.30 percent to reach a new high of P60.05.

Ayala Land followed closely with trades amounting to P485 million, rising by 80 centavos to P36.35. Market analysts anticipate continued volatility in the index until the commencement of the dividend season next month.

Business: Business men in suite and tie in a work meeting in the office located in the financial district.

The resistance level at 7,150 points is perceived as a significant hurdle, contingent upon the resolution of economic uncertainties such as geopolitical tensions.

Among the gainers were Megawide, Bloomberry, Premium Leisure, Atlas Mining, Nickel Asia, Cebu Air, Megaworld, Globe Telecom, PLDT, Converge, JG Summit, Semirara Mining, First Gen, Ginebra, Aboitiz Power, Emperador, and Apex Mining.

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

Conversely, market bellwether SM Investments, Meralco, Axelum, Century Food, Synergy Grid, Jollibee Foods, Robinsons Land, Puregold, and ICTSI experienced losses.

SMC Food, Manila Water, Figaro, ACEN Corp, DigiPlus, and Philex Mining remained unchanged.

Total value turnover amounted to P4.9 billion, with 98 gainers, 88 losers, and 49 shares unchanged. Foreign buying reached P2.52 billion, while foreign selling amounted to P2.24 billion, resulting in net buying of P114 million.

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