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PSE Index Surges Anew
- By The Financial District
- Aug 18, 2021
- 2 min read
The Philippine Stock Exchange (PSE) index today surged some more with many of the blue chips closing at their high points as investors discounted the rising COVID-19 numbers to close at the top, 118.77 points higher or 1.81 percent to 6,680.18 points.
Photo Insert: The Philippine Stock Exchange (PSE) Index, August 18, 2021
Market players are now awaiting fresh signals from the technicals as the resistance level at 6,700 is just 20 points away, but the fact that the index closed at its high point signals optimism from among investors with market bellwether SM Investments closing at its high price of P1,000 after experiencing a low of P957 to post a P40 rise.
All sub-indices were up again with the exception of the mining and oil index which just like yesterday also declined by another 2.64 percent. Holding and property sub-indices posted gains of 2.69 percent and 2.64 respectively while the financials rose by 1.04 percent, services by 0.64 percent, and industrials by 0.60 percent.
Value turnover amounted to P6.17 billion with 94 gainers, 88 losers, and 55 shares unchanged, as Bank of PI emerged as the most active stock with trades of P552 million as it closed 80 centavos higher to P84.
Emperador was the second most active stock as it surged by a hefty 12.83 percent on its disclosure of a parallel listing in the Singapore Stock Exchange, closing at P16, up by P1.82.
Property stocks Ayala Land and SM Prime closed at their high points although they were traded in their lows during the course of the day. The former closed at its high of P34.05, though it scoured down to P32.95 while the latter hit a low of P33.95 before closing at its high of P34.90.
Ayala Energy closed down by 3.54 percent or 25 centavos to P8.76 while Globe surged by 3.23 percent to close at P2,134, up by P52, although it went down to as low as P2,082.
Aboitiz Power went up by 55 centavos to P24.95, while Monde rose 6 centavos to P16.04. Converge was down by 10 centavos to P27.20 while ICTSI closed 30 centavos higher to P184.30.
