PSE Index In Sharp Rise

The Philippine Stock Exchange (PSE) index today posted a sharp rise, closing at its high point though investors remained cautious, to end the day at 6,684.35 points, up by 77.66 points or 1.18 percent.

Photo Insert: The Philippine Stock Exchange (PSE) Index, May 4, 2023

Fifteen of the top 20 most active stocks were gainers in a day that unnerved the market as the index went down to as low as 6,612.14 points but it immediately changed to a buying surge that carried it to within reach of a new milestone level.

Property firms posted remarkable gains with Ayala Land surging by 4.56 percent to P28.65, a gain of P1.25 on trades of P438 million, to emerge as the most active stock, followed by BDO Unibank with trades of P423 million as it closed 2.4 percent higher to P141, up by P3.30.

Market bellwether sm investments went up by P6.50 to P913.50 on trades of P294 million, the third most active stock.

Financials rose by 1.16 percent, industrials and property by an identical 1.47 percent, holding firms, up by 0.56 percent, and services by 0.32 percent. Value turnover remained below average at P4.53 billion. There were 96 gainers, 97 losers, and 45 shares unchanged.

The four losing shares in the most active stocks were Converge, which went down by 30 centavos to P11.14, ICTSI, which declined by P2 to P214, JG Summit, down by P1.25 to P50.25, and Megaworld, down by 3 centavos to P2.01.

AgriNurture was unchanged at P7.42.

Among the gainers were SM Prime, up by 55 centavos to P34, Ayala Corp, up by P22.50 to P654, PLDT, up by P55 to P1,254, Bank of PI, up by P1.50 to P109.50, Monde, up by 42 centavos to P9.95, and ACEN Corp, up by 2 centavos to P6.02.

Completing the list of stocks in the green were Jollibee Foods, up by a peso to P225, Universal Robina, up by P4.50 to P148, Apex Mining, up by 15 centavos to P3.20, Aboitiz Equity, up by 5 centavos to P55.80, and Robinsons Land, which closed up by 6 centavos to P14.70.

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