PSE Index Closes Year Down A Bit

The Philippine Stock Exchange (PSE) index went down a bit, losing 0.15 points or 0.002 percent to 6,566.39 points as investors weighed the impact of a Bangko Sentral projection of a higher inflation rate for December due to a spike in energy prices and a rise in agricultural products.

Photo Insert: The Philippine Stock Exchange (PSE) Index, December 29, 2022

SM Prime emerged as the most active stock with P1.3 billion in trades as it rose by 60 centavos to P35.50, while Ayala Land went up by 75 centavos to P30.80, the third most active stock with trades of P310 million as properties serve as a hedge against inflation.

Market bellwether SM Investments was the second most active stock with P563 million as it lost p10 to P900, its lowest price point.

Property rose by 1.64 percent, mining and oil by 0.97 percent, and services by 0.43 percent and the financials rose by 0.47 percent while industrials lost 0.04 percent and holding firms declined by 1.07 percent.

There was a surge in bargain hunting near the close that saw three of the sub-indices recovering from loss signals that at that time just had the property up.

Value turnover was a bit higher than average at P6.16 billion with 120 gainers, 68 losers, and 49 shares unchanged. Jollibee Foods was unchanged at P230 while Converge gained 22 centavos to P15.88.

Alliance Global was up 20 centavos P11.90, Megaworld REIT, up P1.54 to P14.48, Bank of PI, up P3 to P102, DM Consunji, up 58 centavos to P12, ICTSI, up P2 to P200, and PLDT up P4 to P1,317.

Among the losers were Puregold, down 5 centavos to P34.90, Aboitiz Equity, down 5 centavos to P57.70, ACEN Corp, down 2 centavos to P7.62, BDO Unibank, down 20 centavos to P105.70, Monde, down 24 centavos to P11.08, JG Summit, down P1.70 to P50.30, and GT Capital down P6.60 to P435.

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