PSE Index Stays Green Amidst Subdued Trading

The Philippine Stock Exchange (PSE) index remained in the green Friday, closing 38.99 points higher at 6,648.23 points, up by 0.59 percent.

The Philippine Stock Exchange (PSE) Index, July 12, 2024

Foreign investors were net buyers again, despite trades being down by 27 percent as profit-taking dominated the market.

Industrials and Mining and Oil sub-indexes posted losses, while Financials rose by 0.70 percent, Holding Firms went up by 0.44 percent, Services advanced by 1.64 percent, and Property gained 0.68 percent.

Trading was subdued with profit-taking being the order of business, but some blue chips held their ground. For instance, PLDT opened at a low of P1,535, raced to P1,560, then dropped to P1,543 before closing at P1,565, up by P33.

Market bellwether SM Investments closed P10 up at P880, while Globe Telecom opened at P2,134, and hit a low of P2,118, before closing at P2,128 for a P22 decline.

BDO Unibank was the most active with trades of P399 million, closing 10 centavos down at P143.70. Value turnover amounted to P4.38 billion, while net foreign buying stood at P257 million on foreign buying of P2.061 billion and foreign selling of P1.804 billion.

There were 93 gainers, 83 losers, and 50 shares unchanged.

Among the gainers were ICTSI, SM Prime, Ayala Land, Robinsons Land, Bank of PI, Metrobank, China Bank, PNB, Security Bank, PSE, Aboitiz Power, Citicore RE, Cebu Air, DigiPlus, Wilcon Depot, D&L Industries, Petron, SPNEC, Shell Pilipinas, Axelum, Century Food, Jollibee Food, Ayala Corp, Alliance Global, ATN Holdings, DoubleDragon, and Converge.

The losers included Aboitiz Equity, Union Bank, ACEN Corp., Alternergy, Manila Water, Semirara Mining, DMC Holdings, LT Group, Puregold, SSI Group, Ferronickel, Oceana Gold, Haus Talk, Nickel Asia, Belle, and Bloomberry.

Unchanged were Meralco, AgriNurture, Roxas and Co., CEMEX Holdings, Cosco Capital, JG Summit, Philex Mining, and PAL.