PSE Index Sees Modest Rise

The Philippine Stock Exchange (PSE) index saw a modest increase in today's trading, mainly driven by gains in the industrials and mining and oil sub-indices, pushing the index to 6,233.74 points, up by 10.80 points or 0.17 percent.

Photo Insert: The Philippine Stock Exchange (PSE) Index, September 11, 2023

Transaction volume remained below average, however, with foreign investors recording a net foreign selling of P504 million.

Monde Nissin, which saw its share price rise above P8 after two months at the P7 level, contributed to a 1.07 percent gain in the industrials sector, posting a substantial increase of 4.81 percent with a 38-centavo rise to P8.28.

Universal Robina and Jollibee Foods also contributed to the increase, with respective gains of 60 centavos to P117 and P4 to P237.

However, the index-heavy holding firms experienced a 0.07 percent decline, despite a P1 gain in market bellwether SM Investments, which closed at P825 on trades amounting to P93 million.

Aboitiz Equity decreased by 90 centavos to P48.10, and Ayala Corp dropped by a peso to P623, contributing to the decline in holding firms. The property sector also lost 0.11 points, with Ayala Land declining by 25 centavos to P28.55, Robinsons Land falling by 6 centavos to P14.94, and SM Prime gaining 15 centavos to P30.15.

The financials sector also saw a 0.29 percent decline, despite a 30-centavo uptick in BDO Unibank, which was the most active stock with P555 million in trades, closing at P131.50. Offsetting this increase were losses in Security Bank and Metrobank, both down by 15 centavos to close respectively at P78.80 and P54.85.

Other losers in the financials sector included Bank of PI, down by P1.10 to P105.90, marking a loss of 1.03 percent, and Philippine National Bank, down by 6 centavos to P18.42.

In the mining and oil sub-index, Semirara Mining led with a 1.87 percent increase, rising by 5.16 percent to P33.65, up by P1.65. Atlas Mining rose by 2 centavos to P3.20, and Philex Mining increased by 1 centavo to P2.77.

The services sector saw a 0.27 percent increase, with Bloomberry rising by 8 centavos to P11.30, ICTSI gaining P1.60 to reach P211, and Globe Telecom increasing by P16 to P1,706, offsetting losses in PLDT, which fell by P5 to P1,195, and Converge, down by 4 centavos to P8.20.

Total value turnover amounted to P3.62 billion, with 95 gainers, 103 losers, and 41 shares remaining unchanged. Foreign buying amounted to P1.44 billion, while foreign selling reached P1.95 billion.

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