PSE Index Ends Day Treading On Green Pastures

The Philippine Stock Exchange (PSE) index closed today at 6,853.29 points, marking an increase of 30.97 points or 0.45 percent.

The Philippine Stock Exchange (PSE) Index, March 18, 2024

The day witnessed a surge above 6,900 points before experiencing a correction as investors decided to lock in their gains. This correction resulted in losses for holding firms and services sectors.

Key players like SM Investments, Ayala Corp., and GT Capital experienced similar trading patterns, leading to a decline of 0.40 percent in holding firms and a 1.05 percent decrease in services.

Notably, global port operator ICTSI closed at P307.20, down by P7.80 after reaching a high of P669.50.

On the positive side, financials rose by 2.95 percent, driven by active trading in bank stocks. Industrial, mining and oil, and property sectors also saw gains of 0.13 percent, 0.27 percent, and 0.64 percent, respectively.

Metrobank emerged as the most active stock of the day with trades amounting to P683 million, followed by BDO Unibank and Bank of the Philippine Islands (BPI). Value turnover totaled P6.29 billion, with 101 gainers, 97 losers, and 39 shares remaining unchanged.

Net foreign selling amounted to P23.7 million, with foreign buying at P3.19 billion and foreign selling at P3.217 billion.

Among the gainers were Belle Corp., Atlas Mining, Philex Mining, Semirara Mining, Manila Water, DMC Holdings, ACEN Corp., DigiPlus Interactive, ABS CBN, GMA 7, Globe Telecom, Boulevard Holdings, JG Summit, Ayala Land, SM Prime, Robinsons Land, Megaworld, Jollibee Foods, Meralco, Converge, and AgriNurture.

On the other hand, losers included Aboitiz Power, LT Group, Cemex Holdings, PNB, Basic Energy, Synergy Grid, Century Food, SMC Food and Beverage, San Miguel, Megawide, First Gen, Bloomberry, Apex Mining, PLDT, and Cebu Air.

Unchanged stocks comprised Nickelasia, Axelum, SPNEC, Petron, and Alternergy.

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