PSE Index Surges

The Philippine Stock Exchange (PSE) index today surged on a slew of bargain hunting with market bellwether SM Investments closing at a recent high to push the index two milestone levels higher to 6,523.09 points, a gain of 129.54 points or 2.03 percent.

Photo Insert: The Philippine Stock Exchange (PSE) Index, June 26, 2023

All the sub-indices posted a healthy uptick with industrials higher by 2.47 percent, holding firms up by 2.40 percent, property up by 1.92 percent, services up by 1.33 percent, mining and oil up by 1.25 percent, and financials higher by 0.95 percent.

Fifteen of the top 20 active stocks rose while one was unchanged, BDO Unibank, which emerged as the top traded stock with P427 million as it closed the same as last Friday's P140.

Only four posted declines although the value turnover was still below average at P4.3 billion.

There were 100 gainers against 70 losers and 56 shares were unchanged. SM Investments was the second top traded with P366 million as it hit a high of P933.50 after opening low at P913. It closed at P929, up by P19.50

Third-ranked in terms of trades was Metro Pacific, which hit a recent high of P4.75 on news of its hiring of a new company to determine its true valuation for a planned delisting.

The losers were PLDT, down by P37 to P1,305, Emperador, down by 5 centavos to P21.50, Greenery Holdings, down by 9 centavos to P1.36 and GT Capital, down by P2.50 to P500.50.

Among the gainers were ICTSI, which went up by P6.30 to P206, Universal Robina, up by P11.50 to P138, SM Prime, up by 90 centavos to P33.90, Ayala Land, up by 30 centavos to P24.70, Ayala Corp, up by p20 to p635, and Bank of PI, up by P1.70 to P107.90.

The other stocks that posted gains were Metrobank, up by P1.60 to P55, Monde Nissin, up by 50 centavos to P8.10, Jollibee Foods, up by P1.60 to P241.80, AgriNurture, up by 3 centavos to P7.16, Meralco, up by P3 to P329, and ACEN Corp, up by 4 centavos to P5.22.

WEEKLY FEATURE : MVP Group Keeps Lights On During Pandemic