PSE Index Up A Bit

The Philippine Stock Exchange (PSE) today closed just a bit up with a gain of just 15.75 points or 0.24 percent to 6,671.12, closing at its lowest point as it raced initially to a new milestone level only to wither down going to the closing hour.

Photo Insert: The Philippine Stock Exchange (PSE) Index, March 6, 2023

This trend is said to be an indication of the bearish sentiment in the market with the still-awaited inflation report for March that would signal what the new interest rates will be.

Value turnover was also affected with trades of just P4.75 billion, 20 percent than the average although gainers were more than losers, 102 to 83 with 45 shares unchanged.

The PSE index hit a high of 6,737..01 points only to falter as the trading went on with the holdings firms posting a loss of 0.10 percent as market bellwether SM Investments declined by P10 to P886 although it hit a high of P903, and Ayala Corp lost P2 to P650.

Financials went up by 0.002 percent, industrials by 0.20 percent, services by 1.27 percent, mining and oil by 0.36 percent, and property by 0.54 percent.

ICTSI, which went up by P7 to P207 was the second most active stock with trades of P386 million after BDO Unibank with trades of P783 million as it closed at P123, up by P1.20. Ayala Land was the third most active stock with P214 million as it gained 30 centavos to P28.65.

Globe Telecom rose by P24 to P1,874, while PLDT gained P3 to P1,320 to push the services sub-index to a respectable rise.

The other gainers were Universal Robina, up by 10 centavos to P135.10, SM Prime, up 5 centavos to P35.55, Metro Pacific, up 2 centavos to P4.52, ACEN Corp, up 6 centavos to P6.70, Megaworld, up 7 centavos to P2.05, Metrobank, up 75 centavos to P59.95, JG Summit, up P1.40 to P50.90, Meralco, up P4.40 to P319.40, and Figaro Coffee, up 3 centavos to P1.04.

Petron Corp was the biggest gainer with a rise of 13.64 percent as its stock went up by 36 centavos to P3.00

Among the losers were Robinsons Land down 10 centavos to P14.80, Jollibee Foods, down P2 to P232, and Aboitiz Power, down 15 centavos to P38.

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