PSE Index Up A Bit

The Philippine Stock Exchange (PSE) index today rose a bit to 6,181.06, up by 5.81 points or 0.09 percent as the Ber months started, the period in which analysts have long predicted the index going beyond 7,000 points.

Photo Insert: The Philippine Stock Exchange (PSE) Index, September 1, 2023

Value turnover almost doubled though net foreign selling accounted for almost half of the total trades.

Three of the sub-indices posted declines, financials down by 0.71 percent, holding firms by 0.61 percent, and mining and oil by 0.87 percent while industrials rose by 0.54 percent, property by 2.36 percent, and services by 0.18 percent.

Total value turnover amounted to P11.5 billion with 98 gainers, 92 losers, and 44 unchanged. Total foreign buying amounted to P1.8 billion while foreign selling hit P7.5 billion for a huge net foreign selling of P5.6 billion.

Metro Pacific emerged as the most active stock with P2.86 billion as it rose by 12 centavos to P5.17 with its upcoming tender offer deadline of September 7 with the price set at P5.20 from an earlier pricing of P4.63.

Later, the company will be delisted. SM Prime went up by 70 centavos to P29.90, up by 2.4 percent on trades of P384 million while BDO Unibank went up by 80 centavos to P140.10 with trades of P339 million.

Among the gainers were Converge, up by 23 centavos to P8, Ayala Land, up by 90 centavos to P28.05, PLDT up by P26 to P1,176, Metrobank, up by 20 centavos to P55.40, Meralco, up by P1.40 to P345, Nickel Asia, up by 4 centavos to P5.19, and Jollibee Foods, up by P3 to P240.

GT Capital was unchanged at P572.50.

The losers included Bank of PI, down by P3 to P107, Ayala Corp, down P7 to P609, ICTSI, down by P1.20 to P206, JG Summit, down by 15 centavos to P36.40, Security Bank, down by P1.10 to P79.40, and Bloomberry, down by 6 centavos to P11.

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