PSE Index Surges Further

The Philippine Stock Exchange index today surged further with gainers more than double the losers as investors trooped back to the market to push it up to 6,727.60 points, 132.94 points, or 2.02 percent higher.

Photo Insert: The Philippine Stock Exchange (PSE) Index, May 18, 2022

Only the property sub-index declined on profit-taking dropping by 0.60 percent as sm prime and Ayala land lost momentum to close down by 65 centavos to p28. 80 for the former and 10 centavos for the latter to P36.70.

Mining and oil rose by a hefty 2.72 percent on news of the resumption of open pit mining followed by services up by 2.70 percent and holding firms up by 2.68 percent. The industrials gained 2.41 percent a d Financials, 1.99 percent.

Market bellwether SM Investments shook off profit-taking early in trade and immediately recovered closing at its high point of P870, up by P38 or 4.57 percent after going down to a low of P820. It emerged as the most active stock with trades of P561 million.

Semirara Mining added 5.04 percent to p31. 25, up by p1. 50 or 5.04 percent. Meralco soared to P360, up by P30 or 9.09 percent. Megaworld was unchanged at P2.80.

Value turnover reached p7. 74 million with gainers overwhelming losers, 134 to 60 with 45 shares unchanged. Universal Robina was down by 80 centavos to P106.50 while Bloomberry was unchanged at P6.44.

Among the gainers were PLDT up P4.20 to P97, ICTSI up P14.80 to P217.80, Bank of PI up 4.20 to P97, Monde up 34 centavos to P14.94, Ayala Corp up P3 to P678, Jollibee up P5.20 to P212.20, Metrobank up 75 centavos to P52.25, Globe up p50 to P2,458, and AC energy up 34 centavos to P7.04.

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