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PSE Index Recovers
- By The Financial District
- Mar 15, 2022
- 2 min read
The Philippine Stock Exchange today recovered lost ground but had to face a prospect of another big decline after a weak opening, closing with a respectable 202.97 point or 2.88 percent rise to 7,019.92 points, its highest price point for the day.
Photo Insert: The Philippine Stock Exchange (PSE) Index, March 15, 2022
Property firms Ayala Land and SM Prime towed the index to a big finish but only after seeing their share prices hit new lows before bargain hunters came in. ALI closed p 1.35 higher to p35.40 but only after going down to as low as p34.55 on trades of p580.6 million, the most active stock.
SM Prime, the second most active with trades of p526. 5 million, dropped to as low as p36. 55 before closing at p39, its top price. The two's performance buttressed the index by 3.51 percent, the biggest sub-index gainer.
The Financials rose by 3.07 percent, holding firms by 2.95 percent, industrials by 2.05 percent, and services by 0.72 percent. Only the mining and oil sub-index posted a loss, down by 3.7 percent as Semirara lost another 90 centavos to finish at p28.
Jollibee hit a low of p211 before recovering to close at p228 for a p9.60 advance, but Solar Philippines saw its stock beaten some more, down by 17 centavos to p1.52.
Market bellwether SM Investments mirrored the performance of the majority of blue chips, opening at p875 and hitting a low of p851.50 before surging to p911, up by p31.
The PSEI opened at 6,820.78 but had to endure a disastrous decline, going down by another 182.38 points before recouping its losses and going above the 7,000 point milestone. Value turnover was 50 percent above average at p9. 6 billion with losers ahead of gainers, 138 to 76 with 36 shares unchanged.
Among the losers were Security Bank, which lost p1. 60 to p104. 10, Globe, down p110 to p2,240, and Converge, down 65 centavos to p22. The gainers included PLDT, up by p25 to p1, 740, ICTSI, up p8 to p220, Monde, up p1.10 to p15.50, and Bank of PI, up p4 to p96.
