PSE Index Recovers

The Philippine Stock Exchange (PSE) recovered to close at 6,225, up by 64.39 points or 1.05 percent, with all the sub-indices posting gains even with net foreign selling of P219 million.

Photo Insert: The Philippine Stock Exchange (PSE) Index, August 29, 2023

Most of the blue chips closed at their high price points after encountering lower trades in the early going.

Ayala Land emerged as the most active stock with P833 million in trades as it closed at its high of P28.50, up by 40 centavos or 1.42 percent after hitting a low of P27.95, while market bellwether SM Investments was down by P12.50 to P812.50 on trades of P470 million. The second most active stock had volatile price swings of P802 to P825.

Ayala Corp was the third most active with P382 million as it closed at its high of P615, up by P17 or 2.84 percent.

Services posted the biggest gain of 1.52 percent on the back of a hefty 4.3 percent rise in its share price at P213.60, up by P8.80 as net foreign buying amounted to P41 million out of its P302 million in trades.

Financials went up by 1.00 percent, holding firms by 0.37 percent, industrials by 0.58 percent, and mining and oil by 1.19 percent as top miner Semirara Mining gained 50 centavos to P32,30, while Nickel Asia was unchanged at P5.08.

Total value turnover amounted to P5.6 billion with 85 gainers, 89 losers, and 53 shares unchanged.

Among the gainers were BDO Unibank, up by P1.10 to P141.60, Bank of PI, up by P2.80 to P107.90, Metro Pacific, up by 2 centavos to P5.12, SM Prime, up by 70 centavos to P30.30, GT Capital, up by P10 to P555, Monde Nissin, up by 45 centavos to P7.05, Meralco, up by P5.60 to P350, Globe Telecom, up by P11 to P1,836, and JG Summit, up by P1.25 to P37.65.

The losers included PLDT, down by P18 to P1,182, and Converge, down by 33 centavos to P8.30, while Metrobank was unchanged at P54.75.

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