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PSE Index Surges Further
- By The Financial District
- Jul 13, 2023
- 2 min read
The Philippine Stock Exchange (PSE) surged further today, hitting a recent high that eclipsed the two-month see-sawing phenomenon, with only two losers among the top 20 active stocks, to close at 6,578.49 points, up by 111.64 points or 1.73 percent.
Photo Insert: The Philippine Stock Exchange (PSE) Index, July 12, 2023
Four of the sub-indices had posted gains of more than one percent while two others had below one percent rises as value turnover returned to normal at P6.03 billion, with gainers overwhelming losers for the first time in two months.
Financials went up by 2.61 percent, industrials by 1.49 percent, holding firms by 1.60 percent, mining and oil by 1.91 percent, services by 0.85 percent and property by 0.82 percent.
The surge today was symbolic as the index threatened to go below its 6,350 points support level last week, with value turnover just a ghost of its average trade.
Brokers are now optimistic about the possible rise of the index to the 8,000-point level before the year ends. Only Philippine Seven, which lost P3 to P85 and Bloombery Resorts, which declined by P16 centavos to P10.56 were the decliners in today's trade.
Jollibee Foods hit a new high of P253 as it gained P9.40 or 3.86 percent on trades of P746 million while BDO Unibank, which rose by P6 to P148, a gain of 4.23 percent, was second most active with trades of P679 million.
Bank of PI went up by P1.70 to P112. 0 on trades of P317 million, making it the third most active stock. Monde Nissin and GT Capital were the biggest gainers with respective rises of 39 centavos to P8.80 and P21 to P520.
The other gainers were market bellwether SM Investments, up by P20.50 to 931, ICTSI, up P2.60 to P206, Globe Telecom, up P57 to P1,881, and SM Prime, up by 35 centavos to P33.10 respectively.
Ayala Land was up by 20 centavos to P24.95, Ayala Corp, up P5. 50 to P619 PLDT, up P13 to P1,315, Puregold, up 5 centavos to P28.80, Metrobank, up P1.85 to P57.45, Metro Pacific up 4 centavos to P4.93, Aboitiz Power, up 50 centavos to P36, Keepers Holdings, up 3 centavos to P1.62, and JG Summit, up 50 centavos to P44.20.
