PSE Index Ends Feb. Still Down

The Philippine Stock Exchange (PSE) index today went down again after a brief upsurge in which it went up by 133 points from its Monday close, but not before tumbling to lose 43.14 points or 0.65 percent to 6,556.20 points.

Photo Insert: The Philippine Stock Exchange (PSE) Index, February 28, 2023

Opening low at 6,609 points, the index surged to a new milestone level as investors bought shares that were down to hit a high of 6,670.49 points. But, it became an occasion for early buyers to cash in on their gains.

PLDT, which almost lost 5 percent Monday on news of the padlocking of Smart's Makati office, recovered by P4 to P1,285 with trades of P411 million while its mother firm Metro Pacific also rose by 2 centavos to P4.08 with trades of P265 million.

Value turnover was 350 percent higher at p21. 1 billion with 117 gainers, 80 losers, and 40 shares unchanged.

Emerging as the most active stock was Globe Telecom with P6.52 billion as it lost p96 to P1,775 down a hefty 5.13 percent followed by ACEN Corp with p3. 5 billion as it similarly declined by 26 centavos to P6.34 or down by 3.94 percent.

Meralco was the third most active with P1.3 billion in trades as it rose by P3 to P317.80.

SM Prime went down by 2.99 percent, closing P1.05 lower to P34.05 with trades of P1.03 billion, while BDO Unibank had trades of P934 million as it ended the day 70 centavos lower to P123.40. Market bellwether SM Investments went down by 4.75 percent to P852, a loss of P42.50. Ayala Land was unchanged at P28.50.

Financials advanced by 1.61 percent on the 6.6 percent rise of Bank of PI to P109.80, up by P6.80, and that of Security Bank, which went up by 7.08 percent to P102.80, up by an identical P6.80. Metrobank was down by P1.70 to P58.20.

Industrials and mining and oil respectively rose by 1.43 percent and 0.35 percent. Holding firms lost 2.36 percent, property by 1.41 percent, and services by 0.09 percent.

Among the gainers were Jollibee Foods, up P4.80 to P240, and Monde Nissin, up 86 centavos to P11.06, while the losers among the Top 20 stocks included Ayala Corp, down P23 to P625, Universal Robina, down P1.50 to P136.50, JG Summit, down P1.20 to P49.30, ICTSI down 20 centavos to P199.80, and Cosco Capital, down 20 centavos to P4.17.

Aboitiz equity was u changed at P54.

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