%20(3).png){kind=small}
![TFD [LOGO] (10).png](https://static.wixstatic.com/media/bea252_c1775b2fb69c4411abe5f0d27e15b130~mv2.png/v1/crop/x_150,y_143,w_1221,h_1193/fill/w_179,h_176,al_c,q_85,usm_0.66_1.00_0.01,enc_avif,quality_auto/TFD%20%5BLOGO%5D%20(10).png)
PSE Index Up
- By The Financial District
- Jun 7, 2022
- 2 min read
The Philippine Stock Exchange (PSE) index today rose though trade numbers were a bit low as investors continued to be wary of the upswing in oil prices that could impact the earning capabilities of listed shares to close at 6,754.01 points, a gain of 37.13 points or 0.55 percent.
Photo Insert: The Philippine Stock Exchange (PSE) Index, June 7, 2022
Bucking an early trend towards a decline, the index posted gains on all fronts as investors opted to buy into the market even with the oil price hike to $120 a barrel seen to negate the earnings potential of many listed shares.
The rise in the price of oil has been a catalyst in the bearish sentiments now embracing the markets as central banks all over the world push up interest rates to offset the impact of the inflationary spikes.
The cautious approach of investors led to sub-one percent rises in the sub-indices while value turnover was below average at P4.9 billion, 13 percent lower than normal trades.
Market bellwether SM Investments closed just P3 higher at P854 to push the holdings sub-index to a top-gaining 0.91 percent. The financials rose by 0.23 percent, industrials y 0.14 percent, services by 0.34 percent, mining and oil by 0.91 percent, and property by 0.52 percent.
SM Prime emerged most active stock although it was hit by investors pocketing gains to close 35 centavos lower at P39.10 on trades of P633 million followed by Ayala Land which reversed gear to post a P1 rise to P30.95 with trades of P320 million.
BDO Unibank was down by 70 centavos to P128.30 while Bank of PI advanced by 5 centavos to P95.15. Market analysts see the index swinging sideways until it gets drawn by inertia to either drop or swing up due to the lack of news to propel it.
ICTSI was down by P1.40 to P214, Converge up by 35 centavos to P 24.20, Monde lost 0 centavos to P13.80 while Semirara Mining was up by 55 centavos to P36.50. Security Bank went up by P2.10 and Metrobank by a peso to P54, but Bloomberry declined by 2 centavos to P6.25 and Jollibee was up by P1.80 to P203.
