PSE Index Up

The Philippine Stock Exchange (PSE) index today rose in lethargic trading with the value turnover again half of its average trading as investors remain unconvinced about the market's strength, closing 72.94 points or 1.02 percent up to 7,254.80 points.

Photo Insert: The Philippine Stock Exchange (PSE) Index, December 27, 2021

Value turnover remained low at just p 2.6 billion with gainers at 87 against losers numbering 83 with 51 shares unchanged, investors remaining spooked by the omicron variant as a discovery of a fourth omicron transmission was reported.

Solar Philippines emerged as the top pick with a hefty 20.87 percent rise as it closed 24 centavos higher to p1.39 on trades of p718 million. SM Prime was way down second with its share price unchanged at p34.55 on trades of p103.1 million.

AC Energy posted a loss of 10 centavos to p11.16 while Converge declined by 25 centavos to p32.75. Top Frontier and Synergy Grid also posted losses respectively of 10 centavos to p128.90 and 36 centavos to p13.06.

The market is seen to continue its so-so trading as investors keep away from the market due to unknown fears in the omicron' variant especially with the surge in case in the United States and in Europe.

Only the industrials posted a loss among the sub-indices with a 0.09 percent decline as the other five went up.

The financials were up by 1.89 percent, holding firms by 1.18 percent, services by 1.24 percent, mining and oil by 0.05 percent, and property by 0.09 percent.

Among the gainers were market bellwether SM Investments, which rose by p7 to p968.50, Monde, up 2 centavos to p15.88, Bank of PI by p2.46 to p93.35, Ace Enexor by p2.85 to p40.80, Security Bank by 30 centavos to p117.50.

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