PSE Index Heats Up

The Philippine Stock Exchange (PSE) index today heated up with all sub-indices in big upswings, closing with a hefty 3.61 percent rise or up 232.25 points to 6,674.38 on a return of optimism as it appears on track to pierce its resistance level at 6,900 points.

Photo Insert: The Philippine Stock Exchange (PSE) Index, December 6, 2022

Economic catalysts remained the revenge spending that now characterizes the country's landscape and the strengthening of the peso vis-a-vis the dollar that nudges investors' risk appetite positively. Market bellwether SM Investments surged by 5.48 percent to close at P943, a gain of P49 with trades of P359 million, the third most active stock

BDO Unibank emerged as the most active stock with trades of P404.5 million, closing at P131.60, up by P4.60 while the second most active stock was ICTSI, which closed at P188.40 with trades of P402 million, rising by P4.10 or 2.22 percent.

Only three listed issues posted losses with one, Emperador, unchanged at P20.15. ACEN Corp went down by 2 centavos to P7. 61, First Holdings declined by P1.10 to P60.80, and Monde lost 42 centavos to P11.58.

Holding firms gained 4.35 percent, property by 4.18 percent, financials up 3.15 percent, mining and oil up by 1.43 percent, services up by 1.30 percent, and industrials by 1.19 percent.

Value turnover was a tad above average at p6. 039 billion with 100 gainers, 81 losers, and 46 unchanged.

Universal Robina and JG Summit had respective gains of 5.59 percent to P138, up by P7.30 and by P3.25 to P47. Bank of PI went up by P4.80 to P102.80, Jollibee Foods, up by P10.20 to P246.60, Ayala Land, up by 60 centavos to P39.90, GT Capital, up by P7.60 to P450.60, PLDT, up by P49 to P1,669, and Ayala Corp up P36 to P712.

Rounding out the gainers were Globe Telecom, up P12 to P2,202, Converge, up 6 centavos to P16, SM Prime, up by 2.40 to P36.40, Metrobank up by P1.80 to P55.60, and Aboitiz Equity, up by P1.15 to P55.45.

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