PSE Index Posts Hefty Gain

The Philippine Stock Exchange (PSE) index posted a significant gain, reaching a new milestone level of 6,078.03 points, an increase of 88.76 points or 1.48 percent.

Photo Insert: The Philippine Stock Exchange (PSE) Index, November 6, 2023

Investors were actively buying shares of listed companies that had experienced significant declines.

Market bellwether SM Investments, favored by foreign investors, saw a surge in its stock price. SM Investments gained P28.50, closing at P833.50, up by 3.54 percent. It was also the most active stock with trades of P670 million.

The holdings group as a whole rose by 2.21 percent, with GT Capital gaining P7 to reach P535, Ayala Corp increasing by P8.50 to P624.50, and Aboitiz Equity rising by 35 centavos to P46.05.

The financial sector saw a 1.03 percent increase, services increased by 0.98 percent, mining and oil by 0.89 percent, and property by 1.72 percent. However, the industrials sector experienced a slight decline of 0.03 percent.

Jollibee Foods, the third most active stock, fell by P1.40 to P207.60, while Monde lost 9 centavos to P7.81.

The total value turnover reached P4.02 billion, with 87 gainers, 86 losers, and 51 shares remaining unchanged. Foreign buying amounted to P2.674 billion, while foreign selling reached P2.847 billion, resulting in net foreign selling of P172 million.

BDO Unibank was the second most active stock, with P599 million in trades, gaining P2 to reach P130.

Other bank stocks that saw gains included Bank of the Philippine Islands, which increased by 95 centavos to P100, Metrobank rose by 35 centavos to P52.35, while Security Bank lost 10 centavos to P74.90 and PNB declined by 2 centavos to P18.60.

Among the gainers were Ayala Land, which increased by 2.74 percent to P28.10, a gain of 75 centavos, SM Prime rose by 60 centavos or 1.97 percent to P31, ICTSI increased by P4 to P209, Universal Robina was up by P1.20 to P111.30, ACEN Corp increased by 7 centavos to P5.45, Converge rose by 35 centavos to P8.78, Bloomberry was up by 4 centavos to P9.32, Semirara Mining increased by 70 centavos to P729.70, PLDT was up by P6 to P1,245, and Dito CME increased by 1 centavo to P2.90.

The losers included Meralco, down by P3 to P352, Aboitiz Power, down by 5 centavos to P36.35, First Gen, down by 28 centavos to P18.02, and Wilcon Depot, down by 35 centavos to P20.05. Abacore Holdings remained unchanged at P1.06, and Globe Telecom closed at P1,762.7.

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