PSE Index Recovers At Close

The Philippine Stock Exchange (PSE) index recovered at the close buoyed by last-minute buying in the last hour of trading to end the day with a minimal gain of 38.33 points or 0.57 points to 6,718.51 points.

Photo Insert: The Philippine Stock Exchange (PSE) Index, August 19, 2021

Holding firms carried the day for the index together with the industrials which rose at the close of trade on buying support. The sub-indices went up by 1.02 percent for the industrials and holding firms gained from just a 0.47 percent gain an hour left in trading to a 0.71 percent rise.

The services sub-sector, which was signaling a decline of 0.05 percent recovered at the close to erase the impending losses and come up with a 0.29 percent gain. The mining and the financials were down by 1.82 percent and 0.13 respectively.

Emperador emerged as the most active stock with trades of P609 million as it went up by a peso to P17 while Globe, the second most active with P320 million, succumbed to profit-taking losing P32 to P2,102. PLDT and Converge, however, posted gains of P8 to P1,258 and 75 centavos to P27.95 respectively.

Aboitiz Power rose by 25 centavos to P25.20 while Ayala Land and SM Prime had mixed results with the former up by 70 centavos to P34.75 and the latter down by 20 centavos to P34.70. Ayala Energy lost an additional 20 centavos to P8.56 in its third most active trading performance.

Value turnover amounted to P5.27 billion with 88 gainers, 95 losers, and 46 shares unchanged. Market players see a possible surge with the resistance level at 6, 700 having been pierced and this could augur well for the market as the possibility of the lifting of the hard lockdown is seen to perk up the business activities.

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