PSE Index Recovers

The Philippine Stock Exchange (PSE) index today recovered on bargain hunting powered by the index-heavy holding firms to finish the day at a higher milestone level of 6,607.13 points, up by 50.93 points or 0.78 percent.

Photo Insert: The Philippine Stock Exchange (PSE) Index, March 1, 2023

Market bellwether SM Investments spearheaded the holding firms' rally with a hefty 4.34 percent rise, closing at P889, a gain of P37. Ayala Corp rose by 5.44 percent or a gain of P34 to P659. Both powered the holding firms sub-index to a huge 2.45 percent upswing.

Also up was services, which gained 0.07 percent, mining and oil up 0.39 percent, and property, up by 1.25 percent.

Financials and industrials were down by 0.61 percent and 1.13 percent, respectively. Value turnover amounted to P7.003 billion as the volatile trading saw SM Investments go down to a low of P860 and a high of P893, while most active stock Globe Telecom had a high and low of P1,835 and 1,797.

Globe had trades of P1.166 billion as it closed P33 higher to P1,808 followed by ICTSI with trades of P745 million as it closed a peso lower to P198.80. ACEN Corp had trades of P579 million as it went down by 3 centavos to P6.31.

BDO unibank gained 60 centavos to P124, Metrobank, up by P3.15 to P61.35, SM Prime, up by 75 centavos to P34.80, and PLDT, up by P33 to P1,318.

Megaworld lost 2 centavos to P2 while Bank of PI went down by P5.80 to P104. Other losers were Security Bank, down by P3.80 to P99, GT Capital, down P6 to P513, Jollibee Foods, down P2 to P28, Meralco, down P4.80 to P313, while JG Summit was unchanged at P49.30.

Other gainers were Ayala Land, up 35 centavos to P28.85, Agri Nurture, up 7 centavos to P7.45, Emperador, up 5 centavos to P20.85, and Metro Pacific, up 10 centavos to P4.18. There were 92 gainers, 100 losers, and 44 shares unchanged.

WEEKLY FEATURE : MVP Group Keeps Lights On During Pandemic