PSE Index Up

The Philippine Stock Exchange (PSE) index today closed higher at 6,655.37 points, up by 32.92 points or 0.50 percent.

Photo Insert: The Philippine Stock Exchange (PSE) Index, March 3, 2023

That figure is still lower than last week, indicating the continued apprehension toward the economy with the looming rate hikes amid an inflation spiral.

Actually, the index rose higher and flickered to a new milestone level hitting a high of 6,694.36 points. But the profit-takers took its toll with the property sub-index posting a loss at the end of trade.

At market recess, the index had all the sub-indices up and with turnover just past P2 billion but investors taking their profits resulted in the value turnover hitting P6.48 billion.

Market bellwether SM Investments posted a gain of P5.50 to P896 while Metro Pacific raced to a new high of P4.50 on disclosures of its future prospects, to post a gain of 31 centavos, up by 7.4 percent, the second biggest gainer for the day. Arthaland was the biggest gainer at 12 percent rising by 6 centavos to P0.56.

BDO Unibank was the most active stock with trades of P579 million as it went up by 80 centavos to P125.80 followed by Metro Pacific with trades of P501 million, then Globe Telecom, which rose by P43 to P1,850. Emperador and SM Prime were unchanged respectively at P20.90 and 35.50.

NickelAsia went up by 6.13 percent to P7.62, up by 44 centavos to power mining and oil to a gain of 1.67 percent.

Financials went up by 1.57 percent, industrials by 0.24 percent, holding firms by 0.63 percent, services by 1.67 percent, and property was down by 0.53 percent. Among the gainers were ACEN Corp, up 15 centavos to P6.64, Bank of PI, up by P3.80 to P107.90, and Metrobank, up by 40 centavos to P59.20.

There were 84 gainers 73 losers, and 52 shares unchanged.

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