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  • Writer's pictureBy The Financial District

PSE Index Ends Day Of Sideways Trading In Slight Rise

The Philippine Stock Exchange (PSE) experienced a slight increase today, with the index rising by 15.85 points or 0.23 percent.

The Philippine Stock Exchange (PSE) Index, February 28, 2024

Traders noted that this movement reflects a continuation of sideways trading, without any significant economic developments in the country.

While some blue-chip stocks saw gains, others experienced declines, reflecting the market's current sideways bias. However, foreign investors remained net buyers, with foreign buying amounting to P2.2 billion and foreign selling reaching P2.1 billion, resulting in net buying of P40 million.

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

BDO Unibank recovered, increasing by P4.20 to P148 and emerging as the top traded stock with P480 million. Conversely, market bellwether SM Investments declined by P8 to P913 amidst the mixed performance of stocks in the market.

The sub-indices displayed mixed results, with Financials up by 1.25 percent, holding firms rising by 0.08 percent, and property gaining 0.23 percent.

Business: Business men in suite and tie in a work meeting in the office located in the financial district.

However, industrials, mining and oil, and services experienced declines of 0.26 percent, 0.04 percent, and 0.04 percent, respectively.

Total value turnover amounted to p4.7 billion, with 95 gainers, 85 losers, and 57 shares remaining unchanged.

Among the gainers were PLDT, Jollibee Foods, Metrobank, SM Prime, JG Summit, Bloomberry, Security Bank, PNB, Manila Water, Alliance Global, Aboitiz Equity, Aboitiz Power, GT Capital, and Semirara Mining.

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

On the other hand, the losers included Globe Telecom, Ayala Corp, ICTSI, Converge, Robinsons Land, Universal Robina, ACEN Corp, Emperador, and Bank of PI. Nickel Asia and Ayala Land remained unchanged.

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