PSE Index In Small Rise

The Philippine Stock Exchange index posted a small rise today to 6,238.82 points, up by 21.26 points or 0.34 percent with half of the sub-indices up and the other half down as the uncertainty remained the same on the impact of the Ukraine crisis.

Photo Insert: The Philippine Stock Exchange (PSE) Index, June 27, 2022

The financials declined by 0.88 percent, mining and oil by 1.33 percent, and property down by 0.04 percent while the industrials gained 1.23 percent, holding firms rose by 0.18 percent, and services up by 1.95 percent.

Market bellwether SM Investments was down by P2 to P799.50 but the holding index rose as Ayala Corp rose a peso to P626, and JG Summit was up by P1.25 to P50.

Value turnover was below average at P5.2 billion with 94 gainers, 84 losers, and 54 shares unchanged with Ayala Land emerging top traded as it gained 55 centavos to P27.40 with P523 million, followed by Converge, which rose by a hefty 5.84 percent to close at P19.58 or up P1.06 with trades of P430 million.

Union Bank rose 55 centavos to P76.50 with P384 million in trades.

Market analysts said the bearish sentiments remain with the continued uncertainty arising from the Ukraine war with inflation spikes on a global scale. However, there is optimism in the US markets as the recessionary fears are not seen to arise resulting in the down-and-up trades.

Thus even shares in the same industry have gone in different directions, such as Bank of PI going down by P2.50 to P85.50 while BDO Unibank rose 30 centavos to P118.10, and SM Prime down by 50 centavos to P35.85.

Ayala Land was up, and Megaworld up by 8 centavos to P2.28, while Robinsons Land lost 46 centavos to P16.84.

WEEKLY FEATURE : MVP Group Keeps Lights On During Pandemic