• By The Financial District

PSE Index Recovers

The Philippine Stock Exchange (PSE) index today recovered after briefly going a milestone down on bargain-hunting to close at 6,824.63 points up by 5.64 points or 0.08 percent.

Photo Insert: The Philippine Stock Exchange (PSE) Index, August 18, 2022

Financials, services, and industrials carried the day for the PSE index as the holding firms, mining and oil, and property buckled under selling pressure on profit-taking mode.

Financials went up by 0.58 percent, services by 0.36 percent, and industrials by 0.90 percent while property lost 1.21 percent, holding firms by 0.11 percent, and mining and oil by 1.29 percent.

Emperador emerged as the most active stock as it gained 40 centavos to P20.55 on trades of P1.25 billion followed by Ayala Land which lost 80 centavos to P28.60 on trades of P523 million, and market bellwether SM Investments which declined by P2 to P880 on trades of P375 million.

Value turnover more than doubled to P13.76 billion with 96 gainers, 104 losers, and 40 shares unchanged. The PSE index went down to as low as 6,753.03 points but bargain hunting pushed up the index to recover lost ground.

All the news: Business man in suit and tie smiling and reading a newspaper near the financial district.

Among the rest of the gainers were Security Bank and Metrobank, respectively rising by P1.75 to P92.45 and 60 centavos to P53, GT Capital rose by P5 to P530, Globe, by p34 to P2,366 and SM Prime by 25 centavos to p37. 75.

Converge also rose by 4 centavos to p19. 70, PLDT gained P22 to P1,730, and Jollibee Foods rose P6.60 to P233.60.

Market & economy: Market economist in suit and tie reading reports and analysing charts in the office located in the financial district.

Among the losers were BDO Unibank, which declined by 60 centavos to P127.60, Semirara Mining, down P1.30 to P42.80, Solar Philippines down by 7 centavos to P1.73, Ayala Corp, down P5 to P770, and Meralco, which lost P5 to P323.

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