PSE Index Rises

The Philippine Stock Exchange (PSE) index today surged, but not after a nervous hit below the 7,000 milestone level right after trading commenced as investors bought in discounting the omicron variant's transmissibility to close with a healthy rise of 129.56 points or 1.85 percent to 7,140.67 points.

Photo Insert: The Philippine Stock Exchange (PSE) Index, January 10, 2022

Opening a tad below the 7,000 milestone level, the index declined to a precipitous 6,966.85 points before bargain hunters came in and propelled the sub-indices to higher marks.

Market bellwether SM Investments provided the backdrop to today's trading as it declined to a low of p931.50, soared to a high of p960, and closed at p940 for a p3 increase.

Top traded stock Metrobank closed at its high point of p55. 20, up by p1.70 but not after an unnerving low of p52.40. It traded just p294 million as many investors still opted to stay on the sidelines resulting in a weak value turnover of p5.245 billion with a trading picture of 116 gainers, 64 losers, and 53 shares unchanged.

Financials bannered the charge with a hefty 2.76 percent increase as BDO Unibank also rose with Metrobank with a rise of p2 to p125. Also going up were Bank of PI, up 2.20 to p94.70 and Security Bank up p6.90 to p111.

The other gainers include AC Energy, up 31 centavos to p9.64, Solar Philippines, up 9 centavos to p1.29, Jollibee, up 7.80 to p222.80, and Aboitiz Equity, up p1.80 to 58.50. The losers were Globe, down p30 to p3, 240, PLDT, down p28 to p1,822, Puregold, down 5 centavos to p36.55, and Monde, down 8 centavos to p15.92.

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