PSE Index Closes Week On A High

The Philippine Stock Exchange (PSE) index today closed higher even with profit-taking as investors prepare for the expected economic recovery that is being bruited about with the downgrading of the quarantine protocols with a 30.35 points or 0.42 percent gain to 7,213.46 points.

Photo Insert: The Philippine Stock Exchange (PSE) Index, October 15, 2021

With the index above the resistance level of 7,,100, market punters see a better picture for the market resulting in another heavy volume at P10.5 billion with gainers outpacing losers 113 to 84 with 45 shares unchanged.

Ayala Land was the day's most active trading p1.12 billion as it closed at a new high of P37.05 after getting battered the past three months. Monde, AC Energy and Converge posted losses on profit-taking though after they have gone up for the past three months.

Monde dropped by 16 centavos to p16.38, AC Energy by 38 centavos to p11.32 and Converge by 35 centavos to p31.80.

Ayala Corp gained P6 to p859 while Globe declined by p130 to P3,220. ICTSI was up by p9.80 to p178.90 while Jollibee was unchanged at p229.80.

Market bellwether SM Investments declined by P9 to p991 as the holding firms posted the only loss among the sub-indices with a 0.03 percent drop. Mining and oil posted the biggest gain at 2.08 percent while services rose by 1.07 percent. Financials gained 0.68 percent while the property was up by 0.27 percent.

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