PSE Index Ends Week Up

The Philippine Stock Exchange (PSE) went up today to end the week on a positive note, though still three milestones away from its resistance point.

Photo Insert: The Philippine Stock Exchange (PSE) Index, April 14, 2023

Trading volume is still low at 27 percent below its average as investors remain skittish about the market breadth in the absence of great economic news, resulting in a close at 6,481.91 points, an increase of 33.04 points or 0.51 percent.

Only the financials posted a loss of 0.06 percent even as top-traded stock BDO Unibank closed the day ahead by a peso to P132 on value turnover of P669 million, followed by ICTSI, which rose by P1.60 to P212.60 on trades of P359 million.

Ayala Land posted a 5 centavo gain to P26.50. Market bellwether SM Investments added P20 or 2.26 percent to P904.

Industrials rose by 0.29 percent, holding firms by 0.40 percent, services by 0.14 percent, mining and oil by 2.25 percent, and property by 1.62 percent. Total value turnover amounted to P4.6 billion, down by 27 percent from the daily average with 99 gainers, 81 losers, and 46 shares unchanged.

Mining shares became the focal point of interest from investors with Apex Mining rising by a hefty 8.61 percent to P2.65, up by 21 centavos while NickelAsia gained 3.97 percent to P7.07, up by 21 centavos.

Among the gainers in the Top 20 stocks were Jollibee Foods up by P1.80 to P 214.60, Metrobank up by 25 centavos to P58.45 and Universal Robina up 70 centavos to P141.90.

The losers were Bank of PI down by P1.60 to P99.30, JG Summit down 75 centavos to 48, PLDT down P20 to P1,260, Ayala Corp, down P11.50 to P630, Robinsons Land, down 10 centavos to P14.10,Metro Pacific, down 6 centavos to P3.80, Meralco, down P1.60 to P317.40, Ginebra San Miguel, down P5 to P155.60 and AgriNurture, down 9 centavos to P6.94.

WEEKLY FEATURE : MVP Group Keeps Lights On During Pandemic