PSE Index Closes Week Slightly Up

The Philippine Stock Exchange (PSE) index saw a modest increase Friday, reaching 5,989.27 points, up by 15.49 points or 0.26 percent.

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

However, it briefly surpassed the 6,000-point level before facing a decline in financials, particularly bank stocks, which led to a late-session loss.

The financial sector posted a loss of 0.48 percent, initially poised for gains before the late trades in bank stocks. On the other hand, industrials rose by 0.25 percent, holding firms by 0.01 percent, services by 1.64 percent, mining and oil by 0.25 percent, and property by 0.23 percent.

BDO Unibank was the most active stock, with P355 million in trades, rising by 50 centavos to P128.

However, Security Bank, Bank of PI (Philippine Islands), Metrobank, and PNB (Philippine National Bank) posted losses towards the close after reaching high price points, leading to the financial sector's decline.

BPI (Bank of the Philippine Islands) hit a high of P105 before falling to its lowest point of P99.05, a decline of P1.45. Metrobank reached a high of P52.95 but closed at its lowest, P52, down by 30 centavos. Security Bank lost P2, closing at P75, while PNB ended 4 centavos lower at P18.62.

The market bellwether, SM Investments, rose by P4 to P805, leading the gainers' column with 106 gainers against 59 losers and 49 shares remaining unchanged.

Other gainers included ICTSI, the third most active with P246 million, which rose by P3.80 to P205, AboitizPower, up by 45 centavos to P36.40, Jollibee Foods, up by P4 to P209, PLDT, up by P29 to P1,239, Universal Robina, up by 80 centavos to P110.10, SSI Group, up by 15 centavos to P2.77, and Bloomberry, up by 17 centavos to P9.28.

Also ending the day green were ACEN Corp, which went up by 8 centavos to P5.38, SM Prime, up by 40 centavos to P30.40, Puregold, up by 50 centavos to P27.60, Globe Telecom, up by P2 to P1,762, Dito CME, up by 6 centavos to P2.89, Converge, up by 6 centavos to P8.43, and Ayala Corp, up by P10.50 to P616.

On the losing side, GT Capital was down by P21 to P528, Ayala Land fell by 50 centavos to P27.35, and Aboitiz Equity dropped by 10 centavos to P45.70. The total value turnover amounted to P3.76 billion.

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