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PSE Index Recovers
- By The Financial District
- Mar 9, 2022
- 2 min read
The Philippine Stock Exchange index today recovered but closed with just a slight uptick of 12.15 points or 0.17 percent to 6,989.88 points as investors cashed in their gains when the market went beyond the 7,000-point milestone level in trading that saw shares see-saw in prices in the course of trading.
Photo Insert: The Philippine Stock Exchange (PSE) Index, March 9, 2022
Opening ten points below Tuesday's trade that rattled the index, bargain hunters came in in a big force to push up the index to its highest price point of 7,095.12 points before again turning south in rowdy trades that saw second liners finish with price rises.
Today's trading also saw the mining and oil sub-index succumbing to profit-taking after days of upsurge on the Ukraine war effects, ending 6.83 percent down.
Market bellwether SM Investments opened at 890.50 and went up to a high of P919.50 before closing at its low price point of P871, down P19 with trades of P626 million, the second most active stock after SM Prime, which had trades of P932 million as it lost 40 centavos to P37.
Ayala Land, though, went up by 30 centavos, enough to make the property index end with a 0.09 percent rise.
The financials went up by 1.14 percent as BDO Unibank and Metrobank rose by P1.40 to P125.40 and by P1.25 to P53.75, while the services sub-index bannered by ICTSI's P6 increase to P225, posted a 1.15 percent rise. Industrials went up by 0.81 percent, and holding firms lost 1.25 percent.
Value turnover was above average at P10.72 billion with 33 unchanged and 102 gainers against 108 losers as second liners fared well as investors diversified their bets in the market that saw Semirara down by P1.60 to P32.05, Global Ferronickel, down by 32 centavos to P3.15, and Jollibee, up by P8.20 to P230.80.
Vulcan Industrial was the day's biggest loser with an 18.75 percent drop to P1.17, down by 27 centavos, while Axelum Resources added 12 centavos to P2.64, and Citicore REIT posted a 10-centavo gain to P2.65.
