PSE Index In Minimal Rise

The Philippine Stock Exchange (PSE) index today rose minimally by 15.52 points or 0.24 percent to 6,546.27 points as the global banking industry seemed in check, central banks having undertaken extra measures to avert contagion.

Photo Insert: The Philippine Stock Exchange (PSE) Index, March 22, 2023

There is still uncertainty though with the low value turnover and the fact that holding firms declined at close to join mining and oil as investors took immediate profits within the day.

The index had a high of 53 points higher than the close to deny the index a rise above another milestone level.

Market bellwether SM Investments was the most active with P411 million in trades as it closed unchanged at P900, followed by PLDT, up by P4.46 to P1,381 on trades of P323 million.

SM Prime lost 50 centavos to P33.95. Financials rose by 0.52 percent, industrials by 0.40 percent, services by 1.07 percent, and property by 0.29 percent. Holding firms went down by 0.24 percent while mining and oil lost 0.06 percent.

Value turnover was tepid with just p4.23 billion with 98 gainers, 77 losers, and 49 shares unchanged.

Among the gainers were Jollibee Foods, up P2.60 to P227, Bank of PI, up 90 centavos to P103.70, Robinsons Land, up 46 centavos to P14.34 on its continuation of a buy-back program, Ayala Corp, up P11 to P640, ACEN, up 11 centavos to P6.31, Bloomberry, up 19 centavos to P9.10, Globe Telecom, up P22 to P1,838, and BDO Unibank, up P2.20 to P126.20.

Among the losers were ICTSI, down P2 to P200, Meralco, down 60 centavos to P307.40, Metro Pacific, down 9 centavos to P3.59, Metrobank, down P1.40 to P57.10, Converge, down 6 centavos to P13.70, and Aboitiz Equity, down P1.60 to P51.40. Solar Philippines was unchanged.

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