PSE Index Recovers

The Philippine Stock Exchange (PSE) index recovered, reclaiming its lost milestone level, as five of its sub-indices posted hefty gains on bargain hunting to close 74.18 points higher to 6,410.09 points, up by 1.17 percent.

Photo Insert: The Philippine Stock Exchange (PSE) Index, August 16, 2023

Only the financials ended in the red, down by 0.18 points attributable to the decline in the share price of Bank of PI, the third most active with trades of P264 million even with net foreign buying of P9 million, as it went down by 1.4 percent to P113, down by P1.60.

On the other hand, industrials went up by 1.44 percent, holding firms by 1.74 percent, services by 0.76 percent, mining and oil by 1.85 percent, and property by 0.80 percent.

Ayala Land emerged as the most active with P378 million in trades, that include P117 million in foreign buying as it gained 1.18 percent to P30, up by 35 centavos, followed by ICTSI, which rose by P6.20 to P212 with trades of P310 million, of which P95 million was net foreign buying.

Total value turnover amounted to just P3.85 billion, of which P3.2 billion were foreign trades: P1.92 billion in foreign buying against P1.82 in foreign selling for net foreign buys of P100 million.

Among the gainers were SM Prime, up by 30 centavos to P30.40, BDO Unibank, up by a peso to P143, Jollibee Foods, up by P4.60 to P250.80, market bellwether SM Investments, up by P26 to P886, Emperador, up by 5 centavos to P21.20, Globe Telecom, up by P3 to P1,918, Semirara Mining, up by P1.50 to P32, Wilcon Depot, up by 10 centavos to P23, and Metro Pacific, up by a centavo to P5.05.

The losers were JG Summit, down by 40 centavos to P39.20, PLDT, down by P26 to P1,234, Monde Nissin, down by 14 centavos to P6.71, Ayala Corp, down by 50 centavos to P599.50, GT Capital, down by a peso to P534, Nickel Asia, down by 9 centavos to P5.09, and Bloomberry, down by 18 centavos to P11.22.

Metrobank was unchanged at P57.20.

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