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PSE Index In Upbeat Mode
- By The Financial District
- Aug 26, 2022
- 2 min read
The Philippine Stock Exchange (PSE) is now in an upbeat mode with investors rushing to pick up bargains and even opting for second liners as the so-called Christmas rally remains on the horizon to close with a gain of 46.07 points or 0.69 percent to 6,752.50 points.
Photo Insert: The Philippine Stock Exchange (PSE) Index, August 26, 2022
Value turnover almost doubled to P10.5 billion with 88 gainers, 89 losers, and 47 shares unchanged in trading which saw investors cashing in their day trades and others picking up bargains.
Financials went up by 1.93 percent, industrials by 0.06 percent, holding firms by 0.48 percent, and property by 0.96 percent, while services and mining and oil declined by 0.17 percent and 0.73 percent respectively.
Market bellwether SM Investments buckled under selling pressure at the close to post a peso decline to P879 but it went up to as high as P885 and a low of P865, signifying investors, dubbed "tsupiteros," cashing in their gains within the day.
ACEN emerged as the top traded stock with P713 million in trades as it buckled under selling pressure to close at P29.30, down by 80 centavos although it went to a high of P8.29.
BDO Unibank and Bank of PI went up by P2.70 to P131.50 and P2.80 to P96.95, respectively to push the financials double its market recess close of 0.80 percent. Converge declined by 4 centavos to P18.60, but it had a high 30 centavos higher and a low of P18.58, while Globe went down by P48 to P2,220 but it hit a high of P2,2703.
Ayala Corp. lost P12 to P720, SM Prime rose by 5 centavos to P37.05, Aboitiz Equity went up by P1.65 to P59, and Solar Philippines rose by 5 centavos to P1.69, while second liners found their shares going up on interest from investors eager for bargains.
Ace Enexor went up by 5.4 percent as it gained 88 centavos to P16.94 with trades of P6.9 million, Systems Grid went up by 26 centavos to P13.80 on trades of P67 million, EEI gained 28 centavos or 8.12 percent to P3.73, on trades of P8.3 million, and Ever Gotesco rose by a centavo to P0.315 with trades of P5.4 million.
