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PSE Index In Big Upswing
- By The Financial District
- Jun 16, 2023
- 2 min read
The Philippine Stock Exchange (PSE) index today posted a respectable rise following the pause in the US Fed's rate hike to a higher milestone level at 6,508.34 points, up by 46.92 points or 0.73 percent.
Photo Insert: The Philippine Stock Exchange (PSE) Index, June 16, 2023
Bargain hunting pushed up the index rise after it opened at 6,450 points and dropped by another 37 points as selected blue gained ground fueled by the US Fed's decision not to raise rates and opened the possibility for a rise should it be warranted due to the lower inflation numbers.
Value turnover was huge at P53.5 billion on the block sales involving the P44 billion property dividend of Bank of PI.
Ayala Corp emerged most active with trades of P1.12 billion as it closed P20 lower to P615 followed by Bank of PI with trades of p1. 08 billion as it posted a gain of P2 to P107. BDO Unibank was the third most active stock with P613 million as it went down by P1.90 to P140.
Financials and mining and oil respectively went down by 0.14 percent and 0.32 percent while holding firms rose by 0.45 percent, industrials by 0.50 percent, services by 2.11 percent, and property by 1.77 percent.
There were 96 gainers, 81 losers, and 43 shares unchanged. Market bellwether sm investments went up by p2 to p924 while Bloomberry surged by 8.83 percent to P9.98, up by 81 centavos.
Property giants SM Prime and Ayala Land respectively rose by 85 centavos to P34 and 20 centavos to P24.45, ICTSI gained P7. 50 to P202, Jollibee Foods was up by P5.20 to P140, Robinsons Retail rose by P2.40 to P54, JG Summit, up by P1.20 to P49.35, Meralco, up by a peso to P336, Greenergy by 9 centavos to P1.38 and Aboitiz Equity, up by P2.95 to P57.45.
The losers were Metro Pacific down by 3 centavos to P4.38, Universal Robina, down by 50 centavos to P140, Metrobank, down by 30 centavos to P53.70, PLDT, down by p30 to p1, 260, ACEN Corp, down by 18 centavos to P5.30, while Globe Telecom was unchanged at P1,710.
