PSE Index Regains Milestone Level

The Philippine Stock Exchange (PSE) index regained its milestone level today after its loss post-Carina, with only the mining and oil sub-index down.

The Philippine Stock Exchange (PSE) Index, July 25, 2024

The PSE index closed at 6,726.01 points, up by 55.74 points or 0.84 percent.

Market bellwether SM Investments led the gainers with a 1.04 percent rise to ₱919.50, up by ₱9.50, emerging as the second most active with ₱337 million in trades. ICTSI was the most active with ₱367 million in trades, rising by ₱1.20 to ₱355.

Bank of PI was the only loser among the active stocks, dropping by one peso to ₱127, while Bloomberry remained unchanged at ₱8.78.

Foreign investors queued their investments in shares in the services sector, accounting for ₱1 billion in net foreign buying. Foreign buying amounted to ₱2.78 billion, and foreign selling to ₱2.7 billion, resulting in net foreign buying of ₱78.9 million.

Total foreign transactions amounted to ₱5.48 billion, while value turnover was below that at ₱4.3 billion, indicating the profit-taking in day trades to which foreign investors resorted.

The mining and oil sub-index was the only loser with a 0.56 percent decline due to the losses incurred by some mining firms with the closure of their operations following Super Typhoon Carina.

Financials rose by 0.57 percent, holding firms by 0.75 percent, services by 0.44 percent, industrial by 0.94 percent, and property by 1.36 percent.

There were 102 gainers, 80 losers, and 57 shares unchanged. Among the gainers were BDO Unibank, Ayala Land, SM Prime, ACEN, Metrobank, MRC Allied, China Bank, Security Bank, Puregold, Wilcon Depot, Haus Talk, Apex Mining, OceanaGold, and DigiPlus.

Emperador, Philex Mining, Aboitiz Power, Globe Telecom, PLDT, Converge, Dito CME, ABS-CBN, GMA-7, LT Group, JG Summit, Manila Water, Meralco, Ginebra, Monde Nissin, Jollibee Foods, Cisco Capital, DMC Holdings, Cebu Air, Alliance Global, and San Miguel also finished the day in the green.

Among the losers were NOW Corp, Alternergy, Pilipinas Shell, SPNEC, Robinsons Land, Figaro Coffee, Universal Robina, Aboitiz Equity, Century Property, Nickel Asia, and Atlas Mining.

Shares that remained unchanged included AgriNurture, GT Capital, Megaworld, San Miguel Food, Megawide, and First Gen.