PSE Index Starts The Week Strong

The Philippine Stock Exchange (PSE) index today closed a milestone higher to 6,505.62 points, up by 23.71 points or 0.37 percent as investors went on bargain hunting in trading that saw a volatile run with shares hitting low prices before recovering in a big way.

Photo Insert: The Philippine Stock Exchange (PSE) Index, April 17, 2023

Market bellwether SM Investments emerged as the most active stock with trades of P500. 1 million as it closed P4 lower to P900 but not after hitting a low of P883.

SM Prime, the second most active with P387 million in trades had a low of P33.10 before closing 20 centavos up to P34 while Ayala Land was the third most active stock with P241 million in trades as it hit a low of P26 before recovering to P26.70, up by 20 centavos.

Financials and mining and oil respectively lost 0.83 percent and 0.36 percent, while holdings rose by 0.92 percent, industrials, by 0.73 percent, services, by 0.20 percent, and property rose by 0.42 percent.

Value turnover remained muted too with just p4. 3 billion in trades, down by 28 percent of the average daily volume. There were 82 gainers, 98 losers, and 61 shares unchanged.

Among the gainers were Ayala Corp, up by P25 to P655 for a 3.97 percent upswing, Lodestar Investment, up 15 centavos to P0.79, PLDT, up P24 to P1,284, Jollibee Foods, up P5 to P219.60, and ACEN Corp, up 15 centavos to P6.21.

Bank of PI, up P1.70 to P101, Meralco, up P1.60 to P319, Universal Robina, up 40 centavos to P142.30, Century Pacific, up 75 centavos to P24.90, and Apex Mining up 12 centavos to P2.77, rounded out the list.

The losers included BDO Unibank, down by P3.70 to P128.30, Robinsons Land, down 38 centavos to P13.72, ICTSI, down P2.40 to P210.20, Globe Telecom, down by P5 to P1,800, Dito CME, down 11 centavos to P2.70, and Metrobank, down P1.15 to P57.30.

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