PSE Index Finally Hits Coveted Milestone Level

The Philippine Stock Exchange (PSE) Index today finally breached the coveted milestone level, closing at 7,024.67 points, up by 79.79 points or 1.15%, with all sub-indices posting gains.

The Philippine Stock Exchange (PSE) Index, September 12, 2024

It was the fifth time the index reached this level in three weeks. However, in the previous four attempts, these were only intra-day hits, followed by subsequent sell-offs as investors cashed in their gains.

The 7,000-point level was achieved despite lower-than-average value turnover, as foreign investors were net buyers once again, with net buying of ₱348 million, based on total buying of ₱2.882 billion and selling of ₱2.533 billion.

The Financials sector rose by 0.58%, Holding Firms increased by 1.17%, Services gained 1.29%, while the Industrials, Property, and Mining and Oil sectors respectively grew by 0.64%, 1.40%, and 0.35%.

There were 90 gainers, 107 losers, and 60 unchanged shares. International Container Terminal Services, Inc. (ICTSI) was the most active, with ₱451 million in trades, closing ₱11.40 higher at ₱418.60, up by 2.8%.

Market bellwether SM Investments led the gainers, which included BDO Unibank, Ayala Land, SM Prime, Ayala Corporation, Jollibee Foods, Bloomberry, PNB, Alternergy, Aboitiz Power, Meralco, Manila Water, Petron, Semirara Mining, Converge, GT Capital, Monde Nissin, PAL, Apex Mining, Nickel Asia, Robinsons Land, Haus Talk, LT Group, Century Properties, SPNEC, D&L Industries, and Boulevard Holdings.

On the losing side were DigiPlus, Globe Telecom, China Bank, Citystate Savings, PSE, ACEN Corporation, First Gen, Ginebra, Figaro Coffee, San Miguel, Cosco Capital, DoubleDragon, Belle Corporation, Puregold, Abacore, GMA-7, and CEMEX Holdings.

Meanwhile, unchanged shares included Union Bank, Philodrill, OceanaGold, Philex Mining, Megawide, PLDT, Atlas Mining, AgriNurture, Wilcon Depot, Cebu Air, Atlas Mining, and DITO CME.