PSE Index Misses Year Record But Still Up

The Philippine Stock Exchange (PSE) index today started strong and moved to within 8 points of its 52-week record but profit-taking dampened trading though it still managed to finish with a 55.45 point rise or up 0.76 percent to 7,396.22 points.

Photo Insert: The Philippine Stock Exchange (PSE) Index, November 8, 2021

Profit-taking took its toll on the market today hitting a low of 7,373.53 points after it flirted with a big finish as it surged to 7,424.94 points or a little over 8 points shy from its 52-week high after the holding firms pulsated with a green sign before faltering at the close to register a 0.34 percent decline which, together with the mining and oil sub-index drop of 0.76 percent took out the initial euphoria on the market's performance.

The property sub-index turned in a positive performance of plus 1.03 percent as Ayala Land and SM Prime posted identical gains of 30 centavos to close at P37.80 and P36.30, respectively. But the share prices hit highs of P38.05 for Ayala Land and P36.65 for SM Prime showing how the investors cashed in their gains.

Market bellwether SM Investments emerged as the most active stock with trades of P473 million as it closed lower by P23.50 to P97450, though having opened at its highest price point at P998, same as its Friday close. Ayala Corporation ended up P10 up to P900 on trades of P470 million while AllDay lost 6 centavos to 71 centavos.

PLDT went down by P10 to P1,640 while Globe advanced by P106 to P3,300. Converge was also up by P2 to P35.20 while Dito CME gained 8 centavos to P6.70.

The financials were up by 2.23 percent as BDO rose by P4 to P133, Bank of PI, by P1.45 to P94.95, and Metrobank by P1.10 to P50.30.

Industrials rose by 0.17 percent, and services by 1.41 percent as ICTSI advanced by P2.70 to P190. Value turnover amounted to P8.304 billion with 107 gainers, 101 losers, and 44 shares unchanged.

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