PSE Index Holds Its Ground In The Green

The Philippine Stock Exchange (PSE) index continued its upward trend for the third consecutive day, closing slightly higher at 6,755.26 points, marking a gain of 27.04 points or 0.40 percent.

The Philippine Stock Exchange (PSE) Index, January 3, 2024

However, despite the overall positive performance of the index, the top three most active stocks closed in the red, indicating some uncertainty regarding the projected surge above the 7,000-point mark.

BDO Unibank and Jollibee Foods both experienced declines of 60 centavos, closing at P148 and P260.60, respectively. Universal Robina, the third most active stock, also saw a decrease of 50 centavos, closing at P111.50.

The market saw an equal number of gainers and losers, with 93 shares gaining, 93 shares declining, and 57 shares remaining unchanged. Net foreign buying remained low at p44 million, with foreign buying totaling P2.570 billion and foreign selling amounting to P2.526 billion.

The value turnover was also below average at P4.76 billion.

Sector-wise, the Financials sector experienced a slight decline of 0.47 percent.

On the other hand, the Industrial sector was up by 0.24 percent, Holding Firms by 0.62 percent, Services by 1.16 percent, Mining and Oil by 0.35 percent, and Property by 0.72 percent.

Among the gainers were market bellwether SM Investments, San Miguel, JG Summit, LT Group, Manila Water, Monde Nissin, Robinsons Land, Ayala Land, SM Prime, PLDT, Globe Telecom, SSI Group, PAL, Nickel Asia, Digiplus Interactive, Ayala REIT, Aboitiz Power, and Union Bank.

On the other hand, the losers included Bank of the Philippine Islands, Metrobank, Ayala Corporation, First Gen, Meralco, Axelum, Emperador, Cebu Air, SPNEC, Converge, and DITO CME. San Miguel Food and Beverage, Megaworld, Bloomberry, and Puregold remained unchanged.

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