PSE Index Bucks Early Weakness, Posts Gain

The Philippine Stock Exchange (PSE) index today posted a gain of 20.35 points or 0.33 percent, reaching 6,191.48 points.

Photo Insert: The Philippine Stock Exchange (PSE) Index, November 16, 2023

This marked a turnaround from weakness early in trading, with only one sub-index, mining and oil, experiencing a decline of 0.34 percent.

Trading remained subdued, with just P3.9 million in trades. Financials went up by 0.45 percent, holding firms by 0.13 percent, industrials by 0.45 percent, property by 0.17 percent, and services by 0.29 percent.

There were 88 gainers, 81 losers, and 48 shares unchanged. BDO Unibank emerged as the most active, with P441 million in trades, declining by P1.10 to P129.40.

In the early stages, stocks slid from their Wednesday close but rebounded due to bargain hunting. Market bellwether SM Investments closed at P842.50, up by P3.50, having fluctuated between a low of P835.50 and a high above its close at P845.

Others that rebounded from lower price points included Ayala Land, which dropped to as low as P29.20 before rising to its highest point at P29.80, gaining 30 centavos. GT Capital also dipped to P561 before hitting a high of P577 but settled at the close at P570 for a P6 gain.

Among the gainers were Bank of PI, up by P2.70 to P106.70; Emperador, up by 5 centavos to P20.80; ICTSI, up by P2.20 to P211; Security Bank, up by 50 centavos to P72.40; Fruitas Holdings, up by 6 centavos to P1.23; EEI, up by 30 centavos to P5.80; Bloomberry, up by 13 centavos to P9.66; Megawide, up by 2 centavos to P3.19; Megaworld, up by 1 centavo to P2.03; and Aboitiz Power, up by 70 centavos to P36.70. PLDT remained unchanged at P1,230.

The losers included Universal Robina, down by P2.40 to P109; SM Prime, down by 5 centavos to P31.65; Aboitiz Equity, down by 25 centavos to P48; Semirara Mining, down by 20 centavos to P28.20; Nickel Asia, down by 1 centavo to P5.19; Philex Mining, down by 4 centavos to P2.82; JG Summit, down by 40 centavos to P38.60; ACEN Corp, down by 11 centavos to P4.99; Converge, down by 10 centavos to P8.25; Globe Telecom, down by P18 to P1,744; Wilcon Depot, down by 25 centavos to P20; and Robinsons Land, down by 8 centavos to P14.50.

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