PSE Index Recovers

The Philippine Stock Exchange (PSE) index today recovered, up by 50.13 points or 0.71 percent but not after a frightful dip below the 7,000 milestone level that had bargain hunters coming in as the COVID omicron scare took center stage, the OCTA research citing possible 20,000 daily cases next week.

Photo Insert: The Philippine Stock Exchange (PSE) Index, January 5, 2022

Services and the financials gained 1.26 percent and 1.20 percent, respectively, while mining and oil rose 0.76 percent, and holding firms by 0.65 percent, while the losing sub-indices were the property, down by 0.05 percent and industrials, by 0.04 percent.

There were 108 losers against 86 gainers and 50 shares unchanged with value turnover a bit more than average at p6.9 billion.

Market bellwether SM Investments declined by p2.50 to p929.50 while most active stock Ayala Land lost 2.74 percent or 95 centavos to p33.75 on trades of p659 million. AC Energy lost 40 centavos to p10.10 while Metrobank was unchanged at p54.

SM Prime's 95 centavo rise to p34.35 saved the day for the property sector while the holding firms posted gains. Ayala Corp advanced by p10.50 to p843.50 and JG Summit by p2.38 to p56.50, while Semirara Mining rose by p1.30 to p23.90.

PLDT, Globe and Converge posted gains of p73 to P1,885, p32 to p3,310, and 25 centavos to p31.40. The other gainers included BDO Unibank, up p3.50 to p123.50, Monde, up 30 centavos to p16, ICTSI, up P3 to p198, and Jollibee, up p3.40 to p218.40.

Among the losers were Bloomberry, down 20 centavos to P6, Security Bank, down 2.20 to p113, and Solar Philippines, down 9 centavos to P1.21.

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