PSE Index Still On The Rise

The Philippine Stock Exchange (PSE) continued its advance for the third day in the week with foreign investors being net buyers to close higher by 23.71 points or 0.39 percent to 6,155.03 points.

Photo Insert: The Philippine Stock Exchange (PSE) Index, November 8, 2023

Value turnover remained low though with P3.75 billion in trades with the sub-indices closing mixed, three up and the other three down.

Financials went up by 0.62 percent, industrials by 1.05 percent and property by 1.02 percent while holding firms lost 0.29 percent, services by 0.73 percent, and mining and oil down by 0.73 percent.

There were 90 gainers against 75 losers and 51 shares unchanged notably PLDT at P1,230, Wilcon Depot at P20, Emperador at P820.870, and Monde NIssin at P7.90. Market analysts said investors were cheered by the lower inflation in October and the pause in the US Fed rates which impacted the Bangko Sentral's own rate rationale.

Jollibee Foods was the day's most active stock with a P9.20 or 4.37 percent gain to P219.80 on trades of P593 million while BDO Unibank followed with P534 million as it rose by P1.30 to P134.50 and then Ayala Land with trades of P281 million as it rose by P1.15 to P29.15 for a 4.11 percent increase.

Among the gainers were Universal Robina, up by 30 centavos to P112.70, Globe Telecom, up P5 to P1,775, Aboitiz Equity, up by 65 centavos to P47.60, Ayala Corp, up by 50 centavos to P623.50, Alliance Global, up by 2 centavos to P10.70, and Puregold, up by 10 centavos to P28.25.

Other stocks ending the day green were JG Summit, which was up by 60 centavos to P38.20, Bank of PI, up by 30 centavos to P104.30, Metrobank, up by 50 centavos to P51.20, Security Bank, up by 15 centavos to P75.20 and PNB, up by 4 centavos to P18.54 and Robinsons, Land up by 2 centavos to P14.18.

The losers included market bellwether SM Investments, down by P10 to P819, Cosco Capital, down 10 centavos to P4.60, GT Capital, down by P7 to P538, ICTSI, down 60 centavos to P209.40, Dito CME, down by 6 centavos to P2.85, Aboitiz Power, down by 15 centavos to P36.30, Bloomberry, down by 14 centavos to P9.44, ACEN Corp, down by 14 centavos to P5.30, Semirara Mining, down by 30 centavos to P29.65, and Atlas Mining, down by 12 centavos to P3.07.

WEEKLY FEATURE : Jose Mari Chan And The Christmas Anthem