PSE Index Still Steadily In The Green

The Philippine Stock Exchange (PSE) index today closed slightly higher at 6,549.27 points, up by 14.10 points or 0.22 percent, with the sub-indices closing mixed in a slow market turnout.

The Philippine Stock Exchange (PSE) Index, August 8, 2024

Financials lost 0.39 percent, mining and oil declined by 0.27 percent, and property dropped by 0.60 percent.

On the other hand, the industrial sector rose by 0.82 percent, holding firms increased by 0.42 percent, and services advanced by 0.89 percent. Value turnover was down by 30 percent to P4.1 billion, with foreign trades accounting for P3.57 billion.

Foreign buying amounted to P1.79 billion, while foreign selling hit P1.782 billion, resulting in net foreign buying of P7.7 million.

The slow turnout was emblematic of the August ghost month, as investors are skirting the market for now. There were 106 gainers, 81 losers, and 41 shares unchanged. Market bellwether SM Investments rose, while ICTSI emerged as the most active, followed by ACEN Corp. and BDO Unibank, all of which posted gains.

Among the gainers were Universal Robina, PLDT, Converge, DigiPlus, Boulevard Holdings, China Bank, PNB, Union Bank, DoubleDragon, Robinsons Land, Dito CME, OceanaGold, and Philex Mining.

Apex Mining, Wilcon Depot, JG Summit, ABS-CBN, GMA 7, Aboitiz Power, First Gen, Manila Water, Synergy Grid, D&L Industries, Figaro Coffee, Jollibee Foods, Roxas and Co., Megawide, and LT Group joined the stocks that were up.

Among the losers were Globe Telecom, Ayala Corp., SM Prime, Ayala Land, Security Bank, Bank of the Philippine Islands, Metrobank, Alternergy, Basic Energy, Axelum, Century Pacific Food, Monde Nissin, CEMEX Holdings, Cebu Air, PAL, San Miguel, Aboitiz Equity, Abacore, GT Capital, Belle Corp., Puregold, Atlas Mining, and SSI Group.

Meanwhile, those unchanged included Meralco, Petron, Semirara Mining, SPNEC, Alliance Global, Nexgen Energy, and MRC Allied.