PSE Index Soars Anew

The Philippine Stock Exchange (PSE) index surged Thursday, closing at its highest level, with significant net foreign buying.

The Philippine Stock Exchange (PSE) Index, September 26, 2024

The index ended the day at 7,458.74 points, up by a hefty 96.12 points or 1.31 percent.

Bullish sentiments have apparently returned to the market, as foreign investors' buying exceeded the daily average, with P9.47 billion in purchases against foreign selling of P4.68 billion, resulting in a net foreign buying of P4.7 billion — the biggest so far this year.

Financials rose by 2.59 percent, Industrials by 0.83 percent, Holding Firms by 1.07 percent, Services by 0.94 percent, and Property by 0.37 percent.

The Mining and Oil sub-index, however, dipped by 0.34 percent. Port developer ICTSI emerged as the most active stock, trading P735 million worth of shares, though it remained unchanged at P410.

Value turnover was double the average at P12.5 billion, with 111 gainers, 80 losers, and 61 shares unchanged. Market bellwether SM Investments also closed unchanged, though it hit a high of just one peso shy of P1,000.

Among the gainers were Metrobank, Ayala Corp, Oriental Petroleum, Philodrill, DigiPlus, BDO Unibank, JG Summit, Citystate Savings, East West, Security Bank, Bank of PI, PNB, Petron, GT Capital, PLDT, and Bloomberry.

DITO CME also gained along with Megaworld, ABS-CBN, GMA-7, Wilcon Depot, Aboitiz Power, ACEN Corp, Alternergy, Citicore RE, Citicore RT, Meralco, Ginebra, Figaro Coffee, OceanaGold, Jollibee Foods, Monde Nissin, Nickel Asia, First Gen, Robinsons Land, SM Prime, and Puregold.

Among the losers were Ayala Land, Universal Robina, Filinvest Land, Union Bank, Manila Water, SPNEC, Semirara Mining, D&L Industries, Converge, Belle Corp, DoubleDragon, and Philweb.

Unchanged stocks included Axelum, Metro Retail, PSE, Shakey's Pizza, DMC Holdings, MRC Allied, Shang Properties, and Haus Talk.