PSE Index In Minimal Ascent

The Philippine Stock Exchange (PSE) index rose slightly today, reaching 6,385.52 points, up by just 10.84 points or 0.17 percent.

Photo Insert: The Philippine Stock Exchange (PSE) Index, September 28, 2023

Investors sold their positions for profit-taking midway through trading, resulting in share prices falling after reaching their high points.

As a result, share prices posted declines as investors cashed in on the rise in their portfolios. BDO Unibank, the most active stock with trades of P644 million, closed at P141.40, down by 10 centavos, while Bank of PI, the third most active, posted a P1 loss, closing at P114.40.

However, it had reached a high of P142.30. Aboitiz Power, the second most active, increased by P1.20 to P35.70 on trades of P357 million.

Market bellwether SM Investments fell by P3.50 to P846.50, but it had a high of P853, while SM Prime remained unchanged at P31 but had a high of P31.40. ICTSI lost 60 centavos, closing at P208, and Converge reached as high as P9.71 before closing down at P9.64, up by 33 centavos.

Globe Telecom remained unchanged at P1,833, but it had a high of P1,844. Metrobank rose as high as P54.65 before dropping by 25 centavos to P54.15.

Financials lost 0.12 percent, industrials by 0.04 percent, and property went down by 0.23 percent, while holding firms rose by 0.40 percent, services by 1.15 percent, and mining and oil by 0.19 percent.

The value turnover amounted to P5.1 billion, with 113 gainers, 76 losers, and 59 shares remaining unchanged.

The comforting thought for market players in today's trading was the reversal in foreign trades. Net foreign buying amounted to P194 million, with foreign buying of P2.58 billion against foreign selling of P2.38 billion, marking the first time it happened in two months.

Among the gainers were Ayala Corp., up by P4 to P630; Aboitiz Equity, up by P1.95 to P50.15; PLDT, up by P38 to P1,228; Universal Robina, up by P1.80 to P119.80; Security Bank, up by P1.35 to P79.80; and ACEN Corp, up by 18 centavos to P5.08.

Meanwhile, the losers included Ayala Land, down by 30 centavos to P29.20; Atlas Mining, down by 8 centavos to P3.02, while JG Summit remained unchanged at P39, but it had reached a high of P39.50.

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