PSE Index Surges Upward

The Philippine Stock Exchange (PSE) index experienced a significant surge today, reaching a milestone level as all sub-indices recorded substantial gains, closing at 6,236.94 points.

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

This represents an increase of 91.10 points or 1.48 percent, with a total trading value of P35 billion. Notably, P27.5 billion of this total came from the block sale of Metro Pacific, marking its exit from the stock market as it concludes its tender process.

Among the sectoral sub-indices, financials rose by 1.6 percent, industrials by 1.12 percent, holding firms by 1.54 percent, property by 1.61 percent, services by 0.41 percent, and mining and oil by 0.59 percent.

The market saw 115 gainers compared to 59 losers, with 53 shares remaining unchanged.

Market participants are hopeful that this surge signals the return of bullish sentiments, with some analysts predicting the index could surpass the 7,000-point mark. Notable stock movements included SM Investments, which rose by P10.50 to P838, marking a 1.27 percent gain.

Ayala Corp also gained P11, reaching P613, a 1.83 percent increase. Alliance Global saw a 4 centavo increase, reaching P12.50, while Globe Telecom gained P29 to P1,829. PLDT increased by P15 to P1,180, Converge rose by 20 centavos to P9.20, Security Bank increased by P2 to P77.50, and Nickel Asia rose by 10 centavos to P5.37.

Closing out the list of stocks that gained were Universal Robina, which rose by P3.90 to P118.80, BDO Unibank which rose by P2.80 to P135.80, Ayala Land saw a P1.05 increase, reaching P29.50, SM Prime increased by 35 centavos to P30.35, Aboitiz Power by 90 centavos to P33, Bank of PI by P3 to P110.50, Bloomberry by 22 centavos, reaching P11, and Jollibee Foods was up a peso to P227.

Century Food, which recently replaced Metro Pacific in the PSE index, emerged as the most active stock with P1.23 billion in trades, despite losing 40 centavos and closing at P29.30.

Aboitiz Equity remained unchanged at P46.10, and Semirara Mining also showed no change, closing at P35.

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