PSE Index Gains Slightly

The Philippine Stock Exchange index declined today with an apparent lack of impetus with the sub-indices submitting mixed trading performances and the value turnover almost half of the average closing with a smallish gain of 11.21 points or 0.16 percent to 6,996.11 points.

Photo Insert: The Philippine Stock Exchange (PSE) Index, April 18, 2022

Opening above the 7,000-point level and hitting a high of 7,010.92 points, the market direction reversed gear as investors took profits with the lack of big economic events to back up any buying opportunity, the index hit a low of 6,977.40 before nosing up by almost 20 points.

Market bellwether SM Investments mirrored the market's performance hitting a high of P874 before closing at P865, down by P7.50.

Value turnover was almost half of the average at just P3.65 billion with 90 gainers, 96 losers, and 47 shares unchanged.

The financials lost 0.23 percent, industrials by 0.26 percent, and holding firms by 0.28 percent, while the services sub-index gained 1.009 percent, mining and oil by 0.60 percent, and the property by 0.53 percent.

PLDT was the most active stock with a value turnover of P325 million as it rose by P60 to P1,892 while Converge went up by 20 centavos to P30.15. Globe lost P24 to P2,424. Debuting IPO CTS Global, opened at 1.15, hit a high of P1.17 but closed at P1.06, down by 3 centavos on trades of P174 million.

Shares closed mixed with Bank of PI down by 50 centavos to P98 while BDO Unibank was up by 90 centavos to P129.40, JG Summit up by a peso to P56.50 while Ayala Corp lost a peso to P767, Cebu Air was down by 80 centavos to P46.70, while PAL was unchanged at P26.25.

Meralco lost 20 centavos to P362, while Emperador rose by 16 centavos to P17.26.

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