PSE Index Recovers

The Philippine Stock Exchange (PSE) index today recovered as investors ramped up buying of oversold stocks and positioned themselves to the changeover in the basket of the index of the stock market, to rise by a hefty 92.66 points or 1.42 percent to 6,632.57 points.

Photo Insert: The Philippine Stock Exchange (PSE) Index, August 10, 2021

Property stocks surged with the sub-index coasting to a huge 3.65 percent shepherding the rise in the market that however saw the mining and oil sub-index posting the sole loss at 1.87 percent. The financials were up 0.25 percent, industrials by 0.67 percent, holding firms, 1.13 percent, and services by 0.03 percent.

Ayala Energy was the biggest beneficiary of its projected inclusion in the PSE index of 30 listed shares by August 16 as it emerged the most active with P1.25 billion in trades, going up by 22 centavos to P9.37, while Emperador and DMCI suffered from their removal in the index, respectively closing at P13.10, down by 50 centavos on trades of P433 million and P5.48, down by 25 centavos on trades of P215 million.

Aside from AC Energy, Converge was also included in the changeover in the PSE index basket to finish the day as the second biggest active stock with P506 million in trades as it closed 50 centavos higher to P27.15. Converge was included even though it has not yet been listed for a year, due to its huge IPO of P29.1 billion.

Ayala Land and SM Prime provided the push in the property index as they closed P1.50 higher to P33.80 and P1.25 higher to P33.90 respectively. Megaworld also went up by 11 centavos to P2.82.

Market bellwether SM Investments rose by P26 to P989, while PLDT lost P25 to P1,250, and Globe was down by P5 to P1,980. NickelAsia provided the backdrop to the decline in the mining and oil index as it went down by 27centavos to P5.83.

Value turnover amounted to P6.39 billion with 115 gainers, 91 losers and 34 shares unchanged.

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