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PSE Index Ramps Up
- By The Financial District
- Mar 21, 2023
- 2 min read
The Philippine Stock Exchange (PSE) index today ramped to a higher milestone level as investors caught bargains to push it up, closing at a respectable finish of 6,530.75 points, up by 79.73 points or 1.24 percent.
Photo Insert: The Philippine Stock Exchange (PSE) Index, March 21, 2023
Opening low at its lowest price point of 6,459.54 points, the index slowly rose to end the day at its peak, though the value turnover was a worrisome P4.7 billion, P1.3 billion shy of its average trades.
The uncertainty over the banking crisis that has engulfed even Credit Suisse, a global behemoth, continues to unravel.
There were 109 gainers against 69 losers and 43 shares unchanged with market bellwether SM Investments topping the most active with trades of P499.8 million as it rose by P16.50 or up 1.87 percent to P900.
SM Prime was second most active with P495 million as it closed unchanged at P33, followed by ICTSI, which added P4.10 to P202 on trades of P356 million.
ICTSI's rise, together with telcos PLDT, up by P16 to P1,322 and Globe Telecom of P71 to P1,816, a hefty 4.07 percent surge, pushed the services sub-index to a huge 1.95 percent gain.
Financials went up by 1.30 percent, industrials by 0.72 percent, holding firms by 1.07 percent, mining and oil by 1.46 percent, and property by 1.17 percent. There were only two losers among the Top 20 traded stocks, that of Meralco, which lost a peso to P208, and Universal Robina, down by a similar amount to P140.
The gainers were Metrobank, up by 50 centavos to P58.50, Ayala Land, up a peso to P28, DM Consunji, up 8 centavos to P11.66, BDO Unibank, up P2.50 to P124, Solar Philippines, up a centavo to P1.68, GT Capital, up P5.60 to P491.6, Bank of PI, up P1.30 to P102.80, Ayala Corp, up P24 to P629, and Metro Pacific, up a centavo to P3.68.
Rounding out the shares in the green were ACEN Corp, up 25 centavos to P6.20, AgriNurture, up 6 centavos to P7.31, Jollibee Foods, up P2.40 to P224, and Wilcon Depot up 80 centavos to P27.30.
