PSE Index Recovers

The Philippine Stock Exchange (PSE) index today recovered, clawing back two-thirds of its losses Wednesday as bargain hunters came in buoyed by the rise in the Dow Jones to close at 7,233.26 points, up by 100.68 points or 1.41 percent.

Photo Insert: The Philippine Stock Exchange (PSE) Index, December 16, 2021

Gainers were ahead of losers 109 to 65 with 54 shares unchanged with market bellwether SM Investments rising by p29 to p979 as all sub-indices posted gains led by the services sector which rose by 2.80 percent.

Financials advanced by 0.77 percent, industrials, by 1.54 percent, holding firms by 1.28 percent, property by 0.55 percent, and mining and oil by 0.76 percent.

Investors took their cue from the more than one percent rise in the Dow Jones which the other day posted losses on fears of the federal reserve hiking interest rates.

SM Prime emerged as the most active stock as it went up by 75 centavos to p35 while Ayala Land lost 55 centavos to p35.30. PLDT and globe posted gains respectively of p88 to P1,810 and p294 to P3,600.

Jollibee was unchanged at p223 while Bank of PI advanced by 5 centavos but BDO Unibank was shaved by 50 centavos to p126.50. Metrobank saved the day for the financials with a p2.50 gain to p52.60.

Monde was up by 40 centavos to p16 while Meralco gained p6.66 to p305. Dito also rose by 25 centavos to p5.85 while converge closed 15 centavos higher to p30.90.

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