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PSE Index Rises
- By The Financial District
- Jun 7, 2023
- 2 min read
The Philippine Stock Exchange (PSE) index today rose on bargain hunting boosted by the lower inflation rate, the fourth decline registered this May.
Photo Insert: The Philippine Stock Exchange (PSE) Index, June 7, 2023
This resulted in the index recovering to its milestone level with a gain of 84.77 points or 1.31 percent to 6,564.70 points, its highest trading range. Value turnover remained muted, however.
Market bellwether SM Investments surged with a 2.21 percent rise to P925, an increase of P20 while other blue chips posted big gains with the top three most active rising.
BDO Unibank had trades of P458 million as it gained P2.10 or 1.55 percent to P137.40 followed by Bank of PI with P400 million in trades as it closed P1.90 higher or 1.86 percent up to P103.90. In third was SM Prime, which had trades of P367 million as it went up by 20 centavos to P33.70.
There were 97 gainers, 79 losers, and 44 shares unchanged with value turnover of P4.1 billion, a third lower than its average daily trades.
All the sub-indices were up with holding firms posting the biggest gain with 1.82 percent, financials up by 1.02 percent, industrials by 0.67 percent, services by 0.38 percent, mining and oil by 0.62 percent, and property by 0.75 percent.
There were only five losers and one unchanged.
The decliners were Metrobank, down by 15 centavos to P56.70, Bloomberry, down by 38 centavos to P10.22, AgriNurture, down by 4 centavos to P7.31, Metro Pacific, down 4 centavos to P4.42, and Century Pacific, down 95 centavos to P23.25. Wilcon Depot was unchanged at P26.50.
The gainers were Ayala Land, which went up b y 40 centavos to P26.30, ICTSI, up by a peso to P202, Ayala Corp, up by P19 to P674, PLDT, up by P30 to P1,259, Universal Robina, up by P2.40 to P146.40, Monde Nissin, up by 23 centavos to P8.35, GT Cap Holdings, up by P2 to P507, JG Summit, up by 80 centavos to P49.80, Jollibee Foods, up by P2 to P233 and DNL Industries, up by 25 centavos to P7.45.
