PSE Index In Recovery Mode

The Philippine Stock Exchange (PSE) index continues its recovery mode with a significant gain, seeing all its sub-indices posting gains, although foreign investors remain wary of the market.

The Philippine Stock Exchange (PSE) Index, April 23, 2024

The index closed at a milestone level of 6,506.80 points, up by 62.72 points or 0.97 percent.

Market bellwether SM Investments rallied to P943, up by P8, leading holding firms to a 0.58 percent rise. Financials rose by 0.62 percent, industrial by 1.51 percent, services by 1.19 percent, mining and oil by 0.98 percent, and property by 1.23 percent.

Value turnover was slightly below average, with trades amounting to P5.106 billion, with 102 gainers, 73 losers, and 51 shares unchanged. Net foreign selling reached P508 million, with foreign buying of P2.865 billion and foreign selling of P3.364 billion.

ICTSI was the most active share, with P495 million in trades, closing P3 higher at P328.

Other gainers included Bloomberry, Cebu Pacific, PAL, DigiPlus, SSI Group, Atlas Mining, Philex Mining, Nickel Asia, Universal Robina, Ayala Land, Manila Water, Bank of PI, EEI, ABS-CBN, Metrobank, PNB, Security Bank, Aboitiz Power, First Gen, and Synergy Grid.

Completing the list were Robinsons Land, Jollibee Foods, SM Prime, Megaworld, Monde Nissin, AREIT, GT Capital, D&L Industrial, Century Food, Globe Telecom, PLDT, and Converge.

Among the losers were BDO Unibank, GMA 7, EastWest Bank, Union Bank, Alternergy, Petron Corp, SPNEC, Ginebra, Megawide, DITO CME, Figaro Coffee, AgriNurture, and Philodrill, while those unchanged were San Miguel, Wilcon Depot, Meralco, Axelum, and Aboitiz Equity.