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Writer's pictureBy The Financial District

PSE Index Gives Up Gains

The Philippine Stock Exchange (PSE) index relinquished its gains on Tuesday due to profit-taking, disrupting the anticipated year-end rally.


Photo Insert: The Philippine Stock Exchange (PSE) Index, November 30, 2023



The index closed back to its previous milestone level at 6,265.14 points, a decline of 44.43 points or 0.70 percent. Property giants Ayala Land and SM Prime, which both experienced gains earlier in the day, saw a partial retreat, closing at 2.74 percent and 4.27 percent down, respectively.


ALI lost 85 centavos to P30.15, while SM Prime declined by a significant 4.27 percent to P32.50, down by P1.45. Other losers included Metrobank, down by 65 centavos to P50.85, Bank of PI down by P1.80 to P102.70, and Security Bank down by 35 centavos to P69.05. However, BDO Unibank posted a gain of P1.90 to P133.40.



Only the services and mining and oil sub-indices registered gains, rising by 0.27 percent and 0.62 percent, respectively. The financials lost 0.23 percent, holding firms were down by 0.02 percent, industrials by 0.50 percent, and property took a substantial hit, down by 3.10 percent.


A positive note in today's trading was the continuation of net foreign buys, totaling a higher P202 million on foreign buys of P3.28 billion and foreign sells of 3.08 billion.


The value turnover reached P5.7 billion, adding an optimistic perspective to today's trading.


All the news: Business man in suit and tie smiling and reading a newspaper near the financial district.

Port operator ICTSI emerged as the most active stock with P860 million, rising by P2.80 to P222.80, while SM Prime was the second most active with P486 million. Jollibee Foods ranked third with P441 million, losing a peso to P233.80.


ACEN Corp continued its slide, closing at P4.66, down by 14 centavos, as it announced a P20 billion term loan it had signed. Other losers included Universal Robina down by P1.50 to P115.50, JG Summit down by P1.20 to P37.70, Bloomberry down by 5 centavos to 9.70, PLDT down by P5 to P1,255, Globe Telecom down by P4 to P1,715, and Monde Nissin down a significant 3.25 percent to P8.03, down by 27 centavos.


Market & economy: Market economist in suit and tie reading reports and analysing charts in the office located in the financial district.

Among the gainers were market bellwether SM Investments, Ayala Corp, down by P5 to P662, Aboitiz Equity up by 15 centavos to P48, Manila Water up by 22 centavos to P18.20, Semirara Mining up by 5 centavos to P29, Ayala Corp up by P5 to P602, Atlas Mining up by 23 centavos to P3.52, Nickel Asia up by 4 centavos to P5.10, Philex Mining up by 5 centavos to P3.13, and Emperador up by 5 centavos to P20.85.







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