PSE Index Still On Steady Footing, Rises Anew

The Philippine Stock Exchange (PSE) index rose again Monday, although it closed lower than its high as foreign investors were once again net buyers, closing at 6,728.22 points, up by 20.99 points or 0.31 percent.

The Philippine Stock Exchange (PSE) Index, February 5, 2024

Investors took profits as it surged to a high of 6,760.41 points, up by 58 points from its opening, indicating continued uncertainty in the market as traders still perceive a nervous market due to the rise in oil prices and interest rates remaining the same.

Financials, holding firms, and mining and oil declined due to profit-taking, but the industrial sector, together with property and services, offset the losses.

Services gained 1.35 percent, industrial by 0.77 percent, and property by 0.54 percent, while financials lost 0.06 percent, holding firms were down by 0.39 percent, and mining and oil declined by 1.26 percent.

Value turnover amounted to ₱5.26 billion with losers outnumbering gainers 101 to 81, with 52 shares remaining unchanged.

Foreign buying amounted to ₱2.613 billion, while foreign selling hit ₱2.485 billion, resulting in net buying of ₱127 million.

Among the gainers were Monde Nissin, Converge, SM Prime, Ayala Land, Century Food, Metrobank, BDO Unibank, ICTSI, Meralco, Universal Robina, Megaworld, Globe Telecom, JG Summit, Ayala REIT, Axelum, Semirara Mining, and DITO CME.

The losers included Bloomberry, Digiplus, Philex Mining, Security Bank, Bank of PI, SM Investments, Basic Energy, Manila Water, and San Miguel. Among the unchanged were Aboitiz Equity, PNB, and NOW Corp.

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