PSE Index Sizzles

The Philippine Stock Exchange (PSE) today sizzled to a big finish with gainers almost double that of losers in trading that looked toward a merry Christmas rally as the economy starts to rev up with hope in light of the decline in COVID-19 transmissions, to close at 7,340.77 points, up by 137.05 points or 1.90 percent.

Photo Insert: The Philippine Stock Exchange (PSE) Index, November 5, 2021

The property index woke up from its slumber posting a substantial gain of 3.30 percent as Ayala Land rose by 85 centavos to P37.50 and SM Prime advanced by a hefty 4.2 percent to P36, up by P1.45 with respective trades of P328 million and P503 million.

The services sub-index, for its part, advanced by 2.53 percent on the back of a huge 5.22 percent rise in ICTSI, which emerged as the most active stock with P809 million in trades to close P9.30 higher to P187.30.

The financials were up by 1.33 percent, industrials by 0.48 percent, holding firms by 1.29 percent, and the mining and oil index by 0.42 percent.

Value turnover amounted to P9.49 billion, up by 50 percent from its average trading volume with gainers ahead of losers 137 to 67 and 44 shares unchanged. Only two of the Top 20 active stocks turned in lower share prices as the anticipated Christmas rally flickers from among traders' laptops.

Usually, the PSE index goes up during Christmastime as hope abounds in the heart of investors, leading to what has been termed as a "Christmas rally."

Market bellwether SM Investments rose by P8 to P998 with trades of P118 million, while GTCap Holdings gained by P26 to P585 on trades of P482 million.

Aboitiz Equity went up by 45 centavos to P51.45 while its subsidiary Aboitiz Power lost 65 centavos to P33.30. The other losing stock was Metrobank which shed 65 centavos to P49.30.

Bank of PI was up by P2.10 to P93.50 while BDO Unibank went up by P2.60 to P129.

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