PSE Index Recovers To Resistance-Level Potential

The Philippine Stock Exchange (PSE) index rose again today, with analysts suggesting a potential upward trend next week that could breach its resistance level.

The Philippine Stock Exchange (PSE) Index, January 12, 2024

The index advanced to 6,643.18 points, up by 29.45 points or 0.45 percent.

Two sub-indices experienced losses. Financials declined due to a drop in BDO Unibank, which emerged as the most active stock with trades of P602.3 million. Another day saw net foreign buying of P360 million.

Mining and oil also decreased by 0.52 percent. Holding firms rose by 0.94 percent, services by 1.38 percent, industrials by 0.25 percent, and property by 0.008 percent.

The value turnover amounted to P5.63 billion, with 102 gainers, 92 losers, and 48 shares remaining unchanged. Foreign buying totaled P2.9 billion, while foreign selling reached P2.5 billion.

Among the gainers were market bellwether SM Investments, Jollibee Foods, PNB, First Gen, ICTSI, San Miguel, Top Frontier, Metro Bank, Manila Water, Century Food, Ayala Corp, Aboitiz Power, Dito CME, Ayala Land, Megawide, Synergy Grid, PLDT, and Citicore REIT.

The losers included Bank of PI, Union Bank, Universal Robina, PAL Holdings, Albacore Capital, Bloomberry, Globe Telecom, Puregold, Atlas Mining, Nickel Asia, MerryMart, and Robinsons Retail. Unchanged stocks were JG Summit, Megaworld, Lepanto Mining, Emperador, DMC Holdings, and Filinvest Development.

WEEKLY FEATURE : Jose Mari Chan And The Christmas Anthem