PSE Index Up

The Philippine Stock Exchange (PSE) index today raced to a huge rally but was cut short by profit-taking but still managed to close higher at 7,106.01 points, up by 51.31 points or 0.73 percent.

Photo Insert: The Philippine Stock Exchange (PSE) Index, November 3, 2021

Opening in muted fashion, the index immediately changed course after going down to a low of 7,086.79 points and surged to 7,175.20 points but was cut short by profit-taking in the last canto as value turnover reached above-average at P7.489 billion with 81 gainers, 104 losers, and 46 shares unchanged.

The industrials and the mining and oil sub-index posted losses of 1.67 percent and 2.26 percent respectively to dampen down the rises in the financials, up by 1.12 percent, holding firms, 1.54 percent, services, 0.35 percent and property, 0.56 percent.

Ayala Land was down by 15 centavos to P34.95 while SM Prime was up by 40 centavos to P33.50. Market bellwether SM Investments was up by P40 to P1,005 on trades of P311 million, the seventh most active stock. Emerging most active was PLDT which was unchanged at P1,642 on trades of P392 million.

ICTSI weighed down the services index as it closed P3 lower to P177 while Semirara's decline of P2 to P24 hit the mining and oil index. Globe was up by P138 to P3,134 while Converge was down by 70centavos to P31.10.

Jollibee also dropped by 20 centavos to P229 while LT Group posted a 12-centavo increase to P10.18. Among the gainers were BDO Unibank, up by P1.10 to P125, Metrobank, up by P1.30 to P49, and Megaworld REIT, up by 8 centavos to P18.18.

Among the losers were DMCI Holdings, down by 35 centavos to P7.60, AC Energy, down by 2 centavos to P12.24, Emperador, down 16 centavos to P18.14 and Ayala Corp.,, down P3 to P860.

Tomorrow, the market awaits the All Day IPO which is seen to surge higher than its IPO price of 60 centavos due to pent-up demand following the unserved reservations for the shares.

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