PSE Index In Recovery Mode

The Philippine Stock Exchange (PSE) index today shook down a looming two-day decline with a late charge going into the last 30 minutes to finish the day with a 56.84 point or 0.84 percent rise to 6,800.96 points.

Photo Insert: The Philippine Stock Exchange (PSE) Index, February 21, 2022

That finish meant more than 80 points in recovery for the market after it went down to as low as 6,719.10 before the uptake in share buys that made for the highest finish for the index.

But, uncertainty remains as value turnover remained muted with just 58 percent of average trade today.

Market bellwether SM Investments towed the index to its recovery with a 2.92 percent rise to P897.50 as it mirrored the trading performance today as it hit a low of P873 before investors made their charge, resulting in the share being most active with P307 million.

Ayala Land was the second most active with trades of P275 million as it fell by 15 centavos to P28.95, followed by Bank of PI with trades of P208 million as it rose by 4.11 percent or P4.30 to P108.80.

Only the services sub-index posted a loss of 0.98 percent as ICTSI went down by P3.40 to P206 and Globe Telecom lost P30 to P1,990.

Financials gained 1.57 percent, industrials went up by 0.12 percent, holding firms rose 1.29 percent, mining and oil up by 1.24 percent, and property by 0.60 percent. There were 79 gainers, 94 losers, and 50 shares unchanged

Among the gainers were Ayala Corp, which went up by P7 to P675, SM Prime, which rose by 55 centavos to P37.45, Meralco gained P2 to P310, Metrobank, up by P1.75 to P61.70, Solar Philippines, up 3 centavos to P1.59, and Universal Robina, up by 80 centavos to P141.80.

Figaro Coffee gained 5 centavos to P0.86, Aboitiz Equity gained 50 centavos to P55, AgriNurture went up 10 centavos to P7.02, and PLDT rose P13 to P1,387.

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