PSE Index Surges

The Philippine Stock Exchange (PSE) index today surged on the ease in quarantine protocols for arriving balikbayans indicating a possible revival in the economy, rising by 118.49 points or 1.63 percent to 7,401.16 points.

Photo Insert: The Philippine Stock Exchange (PSE) Index, November 23, 2021

Investors also see the decline in COVID-19 transmissions as a possible harbinger of economic activity that was affected by the havoc created by the pandemic. The optimism translated to a 50 percent hike in value turnover as even the PSE sees the return of normal trading hours as indications of a projected surge in economic growth.

Gainers were more than double the losers, 133 to 56 with 5 shares unchanged as the market bellwether broke out of its stupor to rise by P10 to P985 on trades of P202 million.

All sub-indices posted gains with just two, the industrials and the property submitting below one percent rises, to 0.82 percent and 0.96 percent respectively.

Services gained 2.32 percent, the financials, 2.27 percent and the mining and oil was up by 2.11 percent and holding firms by 1.10 percent as investors see bullish trends afoot with the index above the 2,400-point level,

Monde was the most active stock with P1.2 billion in trades as it advanced by 36 centavos to move to within a new price point at P18.98, while Converge rose by 3.9 percent or P1.20 to close at P32 on trades of P896 million. BDO shepherded the financials to its best finish in weeks with a 4.30 percent gain to P133.50, up by P5.50.

AC Energy also went up by 14 centavos to P12.04 while ICTSI rose by P5 to P198. Globe and Jollibee posted losses respectively to P3,600, down by P20 and P244.60, down by 20 centavos.

PLDT gained P55 to P1,725 while Dito CME rose by 47 centavos to P6.04. Metrobank was up by P1.10 to P52 while Ayala Land declined by 45 centavos to P36.65.

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