The Philippine Stock Exchange (PSE) index today rose slightly to reach 6,618.52 points, marking a gain of 9.30 points or 0.14 percent.
The Philippine Stock Exchange (PSE) Index, January 9, 2024
Investors once again pocketed their gains after shares surged in the early session, with all sub-indices initially showing positive performance. However, by the end of the day, only the financials and property sectors remained in the green.
Financials increased by 1.13 percent, and property gained 0.65 percent, compensating for small declines in holding firms and services at 0.13 percent, the industrial sector at 0.64 percent, and mining and oil at 1.30 percent.
In the early trading hours, shares experienced a significant surge, pushing the index more than 50 points higher. Unfortunately, profit-taking set in, causing shares to shed their initial gains.
For example, port operator ICTSI closed at P246.40, down by P2.60, despite reaching a high of P251.60. Converge reached a high of P9.80 after opening at P9.68 but declined to P9.35, down by 35 centavos due to investors pocketing their gains.
Bloomberry reached a high of P10.36 but dropped to a low of P10.12 before recovering to P10.24, up by 8 centavos.
The total value turnover amounted to P5.74 billion, with 81 gainers, 76 losers, and 67 shares remaining unchanged. Foreign investors were net buyers, amounting to P915 million, driven by foreign buys of P3.486 billion and foreign sells of P2.57 billion.
BDO Unibank emerged as the most active, with P940 million, closing P1.30 higher at P133.60, leading the gainers.
Other gainers included Ayala Land, Security Bank, Robinsons Land, Emperador, Century Food, market bellwether SM Investments, Metrobank, Bank of PI, Manila Water, First Gen, Globe Telecom, PLDT, Dito CME, Premium Leisure, and Shakey's.
Among the losers were AgriNurture, Jollibee Foods, Fruitas Holdings, Pacific Online, Aboitiz Equity, AllHome, Puregold, Monde Nissin, SSI Group, ACEN Corp., and Aboitiz Power.
Unchanged stocks included Megawide, SM Prime, DMC Holdings, Araneta Properties, Vista Land, and Philex Mining.
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