PSE Index Recovers

The Philippine Stock Exchange (PSE) today recovered as foreign investors became net buyers for the first time in two weeks, boosting the index to 6,659.98 points, up by 52.72 points or 0.80 percent.

The Philippine Stock Exchange (PSE) Index, May 23, 2024

Holding firms, led by market bellwether SM Investments, and the property sector, with giants Ayala Land and SM Prime, carried the day for the index with gains of 1.40 percent and 1.22 percent, respectively.

Financials were also up by 0.25 percent and industrials by 0.94 percent.

However, the services sector lost 0.32 percent, and mining and oil were down by 1.29 percent.

There was net foreign selling of P248 million, with foreign buys amounting to P2.317 billion and foreign selling at P2.069 billion. The total value turnover amounted to P6.35 billion, with 94 gainers, 100 losers, and 37 shares unchanged.

BDO Unibank was the most active stock, with trades amounting to P1.365 billion, rising by 50 centavos to P136.50. There were also two block sales, with Macquarie and Maybank transacting the trades.

Among the gainers were Converge, DigiPlus, Globe Telecom, Semirara Mining, PNB, Manila Water, AgriNurture, Ginebra, D&L Industries, Security Bank, Bloomberry, Belle Corp, Union Bank, Metrobank, First Gen, Petron, Axelum, Monde Nissin, Universal Robina, Ayala Corp, San Miguel, DMCI Holdings, and Alternergy.

The losers included ICTSI, Bank of the Philippine Islands, PLDT, Megawide, Jollibee Foods, ACEN Corp, SPNEC, Synergy Grid, Aboitiz Power, JG Summit, AbaCore, GT Capital, Atlas Mining, Apex Mining, Figaro Coffee, OceanaGold, Robinsons Land, and DoubleDragon.

The unchanged stocks were Basic Energy, Meralco, Century Pacific Food, Roxas and Co, Megaworld, Puregold, Nickel Asia, and Philex Mining.