PSE Index Slightly Up

The Philippine Stock Exchange (PSE) closed slightly up on a rise in the index-heavy holding firms even as profit-taking resonated in today's market performance with a 16.56-point or 0.23 percent increase to 7,147.30 points.

Photo Insert: The Philippine Stock Exchange (PSE) Index, December 7, 2021

Holding firms perked up the market together with the property sub-indices, offsetting the declines in the financials, down 0.70 percent, industrials, down 0.64 percent, services, down 0.15 percent, and minding and oil, down 0.46 percent.

The holding firms rose by 1.11 percent and property by 0.46 percent.

Market bellwether SM Investments closed at its high price point of 959.20, up by P24.50 or 2.62 percent on trades of P163.8 million as investors bided up the stock offer it declined to P935.50.

Other stocks though went down on profit-taking - such as AC Energy, which closed at P10.50, down 50 centavos after spiraling to a dizzying low of P9.97.

SM Prime and Ayala Land closed higher, with the former up 30 centavos to P36.00 after hitting a low of P35.85, and the latter also posting a 30 centavo increase to P35.80 after a low of P35.50.

AC Energy was the most active stock, declining by 4.55 percent with a P1.08 billion value turnover as it lost 50 centavos to P10.50, while Monde went down by 4.24 percent or 70 centavos to P15.80 on trades of P738.9 million.

Newly-minted IPO Medlines Distributors had a hefty decline of 30 percent or 69 centavos to P1.61 on trades of 692.7 million.

Value turnover amounted to P7.86 billion on the second day of the return of trading to its pre-pandemic trading that closes at 3pm, with a window at lunchtime. There were 137 decliners against 63 gainers, with 36 shares unchanged, one of which was BDO Unibank, the fourth most active stock, which closed at P120 on trades of P375 million.

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