PSE Index In Big Upswing

The Philippine Stock Exchange (PSE) index surged to a new milestone level of 6,718.50 points, up by 132.49 points or 2.01 percent with blue chips roaring to big upswings as investors trekked back to the market for perceived bargains.

Photo Insert: The Philippine Stock Exchange (PSE) Index, January 4, 2023

All sub-indices were in positive territory with the property index posting the biggest increase of 3.53 percent followed by mining and oil with 2.63 percent and services with 2.59 percent. Financials gained 1.17 percent, industrials by 1.35 percent, and holding firms by 1.43 percent.

Market bellwether SM Investments rose by P21 to P921 but it had a high of P929.50.

PLDT emerged as the most active stock with P617 million to banner the services with an explosive 6.86 percent rise to P1,448, a gain of P93 as Globe Telecom went down on profit-taking to P2,218, a loss of P2.

Converge gained 8.67 percent to P16.80, up by P1.34, while ICTSI rose by 50 centavos to P197.50.

Ayala Land was the second most active stock with P474 million as it added 85 centavos to close at P31.25 while ACEN Corp went up by 38 centavos or 4.76 percent to P8.37 on trades of P360 million.

SM Prime was up by P1.70 to P36.75 while Bloomberry rose by 44 centavos to P8.49. Monde went up by 50 centavos to P12.42 while Robinsons Land rose by 10 centavos to P14.96.

Jollibee Foods gained P6.80 to P242.80, Bank of PI, by 30 centavos to P98.30, Nickel Asia, by 30 centavos to P6.49, and Security Bank, by P1.30 to P90, while all homes posted the biggest gain of 19.51 percent to close at P1. 96 up by 32 centavos.

The other loser aside from Globe was Ayala Corp, which went down by 50 centavos to P687.

Value turnover amounted to P6.69 billion a ten percent rise on local interest in the market whose resistance level is within sight at 6,900 points. There were 122 gainers, 72 losers, and 47 unchanged.

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