PSE Index Declines

The Philippine Stock Exchange (PSE) index today declined on profit-taking, closing at 6,734.99 points, down by 45.79 points or 0.68 percent.

Photo Insert: The Philippine Stock Exchange (PSE) Index, December 1, 2022

The optimism lingers, however, as the market saw higher prices for three-fourths of the listed shares surged as foreign money continued to trickle in into the market.

Market bellwether SM Investments, the catalyst for the market s performance, surged to within its year-high as it gained P41 to P980 up by P41. It was the second most active stock with trades of P1.014 billion after GT Capital, which posted an P11 rise to P450, an added P11 with trades of P1.096 billion.

Jollibee Foods was the third most active stock as investors cashed in their gains to close at P240.60, a loss of 4.37 percent on trades of P594 million.

Mining and oil went up by 3.22 percent, holding firms by 1.43 percent and industrials by 0.21 percent while financials lost 0.84 percent, services by 2.24 percent, and property by 3.75 percent. Total trades amounted to p10. 1 billion with 112 gainers, 77 losers and 40 shares unchanged.

Among the gainers which can be credited to bargain hunting were Converge, which stopped its skid as it closed at P16 for a 3.49 percent gain or up 54 centavos, Globe Telecom, which rose by P50 to P2,350, Metro Pacific, which gained 12 centavos or 3.47 percent, Universal Robina up P2.20 to P135.20, ACEN Corp, up 34 centavos or 4.78 percent to P7.45, Semirara Mining up 65 centavos to P34.30, and Meralc0 up P7.20 to P287.20.

Among the losers were BDO Unibank, which was down 10 centavos to P130, ICTSI, down P8.20 to P196.80, Ayala Land, down P1.90 to P29.60, SM Prime, down P1.20 to P35.20, PLDT, down P53 to P1,699, JG Summit, down P2.20 to P46.90, Aboitiz Equity down P2.50 to P57.50, and Megaworld REIT down 24 centavos to P11.60.

WEEKLY FEATURE : MVP Group Keeps Lights On During Pandemic