PSE Index Closes Slightly Higher

The Philippine Stock Exchange (PSE) index closed marginally higher today, ending at 6,984.63 points, a gain of 0.38 points or 0.005%.

The Philippine Stock Exchange (PSE) Index, September 10, 2024

This came after the index briefly hit the coveted 7,000-point level earlier in the session.

The index opened 4 points above 7,000 and reached an intraday high of 7,109.75 points before pulling back. Value turnover remained strong at P7.25 billion.

Financials were the worst performers, losing 1.70%, led by top-traded BDO Unibank, which declined by P4.50 to P155 on trades worth P750 million.

Holding firms fell 0.30%, with market heavyweight SM Investments down by P12 to P908. Mining and Oil also dipped by 0.61%. However, Property surged by 1.88%, Industrial edged up 0.19%, and Services advanced 0.99%.

There was net foreign buying worth P759 million, with P2.46 billion in selling and P3.22 billion in buying.

Local investors contributed P1.6 billion, showing renewed interest following the end of the "ghost month" in August. The market recorded 111 gainers, 82 losers, and 65 stocks unchanged.

Among the gainers were ICTSI, Universal Robina, SM Prime, Converge, Union Bank, PNB, Meralco, Basic Energy, Axelum, Figaro Coffee, Ginebra, JG Summit, and Ayala REIT.

Also ending the day in green were Robinsons Land, OceanaGold, Aboitiz Power, Semirara Mining, Petron, Synergy Grid, Jollibee Foods, Cosco Capital, GMA-7, Globe Telecom, Cebu Air, Belle Corp, Bloomberry, Robinsons Retail, LT Group, and Megaworld.

Meanwhile, notable losers included Ayala Land, Bank of PI, Security Bank, First Gen, Alliance Global, DoubleDragon, Wilcon Depot, Vitarich, Manila Water, DITO CME, Metrobank, GT Capital, and DigiPlus.

Unchanged stocks included Ayala Corp, ACEN Corp, Alternergy, SPNEC, Philex Mining, Monde Nissin, San Miguel, Philodrill, Filinvest Land, and DMCI Holdings.