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  • Writer's pictureBy The Financial District

PSE Index Gains Slightly

The Philippine Stock Exchange (PSE) index slightly rose today by 9.10 points to 6,263.06 points, up by 0.15 percent due to the increase in index-heavy holding firms and the property sub-index.

Photo Insert: The Philippine Stock Exchange (PSE) Index, October 12, 2023

Value turnover, however, remained muted even with foreign investors becoming net buyers.

Foreign buying amounted to P1.59 billion, while foreign selling reached P1.57 billion, resulting in a net foreign buying of P19.6 million.

This was interpreted as a possible harbinger of good tidings for the market, which had remained flat for most trading days due to the spike in the inflation rate, the projected rise in interest rates next year, and the economic headwinds arising from the geopolitical upheavals in Gaza and Ukraine.

Market bellwether SM Investments rose by P2 to P830, contributing to a 0.27 percent rise. Ayala Corp gained one peso to reach P616.50, Aboitiz Equity was up by 20 centavos to P49.55, and Alliance Global increased by 4 centavos to P11.70. GT Capital, however, decreased by P11 to P564.

Property giants Ayala Land and SM Prime nudged the sub-index to a 0.80 percent gain, with Ayala Land rising by 65 centavos to P29.30 and SM Prime by 10 centavos to P31.20. Robinson's Land also rose by 20 centavos to P15.08, and Megaworld went up by 1 centavo to P2.05.

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

Financials lost 0.09 percent, industrials 0.15 percent, services 0.19 percent, and mining and oil 0.17 percent. BDO Unibank lost 50 centavos to P135.50, Bank of PI decreased by 40 centavos, while Metrobank rose by 45 centavos to P53.90.

Security Bank increased by 80 centavos to P78.75, and PNB was up by 12 centavos to P18.82. Union Bank remained unchanged at P65. Among the gainers were Jollibee Foods, up by P1.60 to P222.20, Figaro Coffee increased by 4 centavos to P0.77, Universal Robina was up by 60 centavos to P115.60, and ICTSI increased by P1.20 to P203.20.

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

The value turnover amounted to P3.2 billion, with 89 gainers, 86 losers, and 49 shares unchanged.

Among the losers were Wilcon Depot, which decreased by 60 centavos to P21.40, Semirara Mining, down by 5 centavos to P35.45, ACEN Corp, down by 19 centavos to P5.27, Aboitiz Power, down by 15 centavos to P36.90, Meralco, down by a peso to P374, and Monde Nissin, down by 6 centavos to P8.59.

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

Telco Globe Telecom was down by P18 to P1,790, so was PLDT, which sunk by P5 to P1,230, and Converge, down by 3 centavos to P9.92.

Bloomberry was down by 8 centavos to P10.62, Puregold, down by 25 centavos to P29.30, Nickel Asia, down by 4 centavos to P5.91, and LT Group, down by 10 centavos to P8.98. Century Food remained unchanged at P29.

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