PSE Index Surges

The Philippine Stock Exchange (PSE) index today surged and appears ready to hurdle its next resistance level as it went up by 1.78 percent to 6,203.58 points, up by 109.05 points.

Photo Insert: The Philippine Stock Exchange (PSE) Index, October 27, 2022

Analysts see the market resistance at 6,300 points and if that is hurdled then it is seen to go beyond the 7,000-point level although the bottom, for now, is at 5,700 points. Only the property sub-index lost, down by 0.74 percent with value turnover reaching p5. 6 billion with 123 gainers, 55 losers, and 44 shares unchanged.

Market bellwether SM Investments went up by 3.81 percent to hit P830, up by P30.50 in the first-ever big upswing in its share price that shepherded the holdings sub-index to a respectable 2.46 percent rise.

Industrials also went up by 2.22 percent, services by 1.98 percent, Financials by 1.78 percent, and mining and oil by 0.06 percent.

Property giants Ayala Land and SM Prime posted losses of 20 centavos to P26.40 and 30 centavos to P32.45, respectively. Port operator ICTSI emerged as the most active stock with trades of P508 million as it closed P5.80 higher to P177.50, a gain of 3.38 percent.

BDO Unibank went up by P3.20 to P127, PLDT, up by P33 to P1,618, Ayala Corp, by P20 to P670, Bank of PI by P1.05 to P94.30, and Universal Robina, by P5.90 to P122.

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