PSE Index Rises For Fourth Straight Day

The Philippine Stock Exchange (PSE) index today rose again for the fourth day of the week as foreign investors turned up as net buyers, closing 33.19 points or 0.54 percent higher at 6,188.22 points.

Photo Insert: The Philippine Stock Exchange (PSE) Index, November 9, 2023

Trading remained volatile, with the index gyrating to a low of 6,155.65 points and a high of 6,203.72 points.

Holding firms, up by 0.76 percent, and property, up by 1.75 percent, accounted for the increase, while financials went down by 0.02 percent, industrials by 0.002 percent, services by 0.14 percent, and mining and oil by 0.80 percent.

Value turnover amounted to P4.63 billion, with 85 gainers, 96 losers, and 46 shares unchanged.

Ayala Land emerged as the most active stock with P598 million, gaining 1.2 percent to 29.50, up by 35 centavos, while BDO Unibank was the second most active with P397 million, rising by 50 centavos to P135. Market bellwether SM Investments had P233 million, losing P2 to P817.

The market's rise has been a bit slow, according to analysts, due to reports of a destabilization plot that was later denied. Foreign investors, though, are betting on a run-up to an expected Christmas rally where the index is being touted to rise to the 7,000-point level.

Meanwhile, there have been bargain hunters as there are profit-takers in the market, resulting in volatile trading for shares in the market.

Among the gainers were SM Prime, up by 90 centavos to P31.80; Ayala Corp, up by P7 to P630.50; Monde Nissin, up by 37 centavos to P8.27; Union Bank, up by 5 centavos to P60.45; Bloomberry, up by 25 centavos to P9.69; Aboitiz Equity, up by P1.20 to P48.80; Aboitiz Power, up by 50 centavos to P36.80; JG Summit, up by 80 centavos to P39; and Alliance Global, up by 6 centavos to P10.76.

Also up were Megawide, which rose by a centavo to P3.16; Metrobank, up by 5 centavos to P53.25; Robinsons Land, up by 22 centavos to P14.40; Megaworld, up by 2 centavos to P1.99; Wilcon Depot, up by 10 centavos to P20.107; PLDT, up by P8 to P1,238; Dito CME, up by 2 centavos to P2.87.

The losers included Security Bank, down by 35 centavos to P29.30; Universal Robina, down by 50 centavos to P112.20; Jollibee Foods, down by P1.40 to P218.40; Bank of PI, down by 50 centavos to P103.80; ACEN Corp, down by 11 centavos to P5.19; and Philex Mining, down by centavos to P2.78.

Meralco was also down by P3 to P369; PNB, down by 4 centavos to P18.52; Puregold, down by 25 centavos to P28; Globe Telecom, down by P3 to P1,772; Converge, down by 10 centavos to P8.80; and Century Food, down by 25 centavos to P28.75.

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