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The Philippine Stock Exchange (PSE) index reached a milestone level today in a trading session marked by share prices fluctuating between green and red, showcasing another day of volatility.
The Philippine Stock Exchange (PSE) Index, December 19, 2023
The index closed at 6,521.27 points, up by 45.77 points or 0.71 percent. Shares experienced a roller coaster ride, with sub-indices displaying both red and green signs throughout the day.
Ayala Land, the most active stock with trades of P675 million, saw its share price hit a low of P33.80 before closing at P34.35, its highest price point for a gain of 40 centavos. BDO Unibank also ended at its high of P131, up by P4.10 or 3.23 percent, but it declined to as low as P125.20.
ICTSI closed at P246, up by P2, but it traded at P240.40 and P246.80. Market bellwether SM Investments lost P9 to P903.50 but had a low of P895.
Holding firms and mining and oil respectively declined by 0.11 percent and 0.43 percent, while financials went up by 1.94 percent, services by 0.80 percent, industrial by 0.06 percent, and property by 0.89 percent.
The value turnover was just P4.36 billion, with 88 gainers, 96 losers, and 47 shares unchanged. Foreign buying amounted to P2.1 billion, while foreign selling reached P1.17 billion, resulting in a net foreign buying of P394 million.
The market is expected to have a bias for upward momentum with the pause in US Fed rates and the corresponding pause in the Bangko Sentral rate setting.
Among the gainers were Bank of PI, up by P1.80 to P104, Globe Telecom up by P27 to P1,730, PLDT, up by P15 to P1,285, Bloomberry, up by 9 centavos to P9.85, Metrobank, up by 60 centavos to P50.95, and SPNEC, up by 2 centavos to P1.16.
ACEN Corp was down by 7 centavos to P4.20, Jollibee Foods, down by P3.80 to P247.80, Nickel Asia, down by 2 centavos to P5.04, Security Bank, down by P1.60 to P71.25, Semirara Mining, down by 5 centavos to P28.15, and Aboitiz Power, down by 10 centavos to P37.70.
