PSE Index Up A Bit

The Philippine Stock Exchange (PSE) index today went up a tad higher on bargain hunting, notably with the uptick in property firms to close at 6,643.45, up by 25.07 or 0.38 percent.

Photo Insert: The Philippine Stock Exchange (PSE) Index, August 24, 2022

Ayala Land and SM Prime posted hefty gains, with the former 3.41 percent higher or 95 centavos to P28.80 while the latter rose by 30 centavos to P36.50 to push the property sub-index to a hefty 1.57 percent.

Three other sub-indices rose, Financials up by 0.39 percent, holding firms by 0.39 percent, and mining and oil by 1.42 percent. Industrials lost 0.35 percent and services went down by 0.30 percent.

ICTSI emerged most active with P345.1 million as it closed 80 centavos up to P185, followed by BDO Unibank, which went up by P2 to P127.

There were 119 gainers, 74 losers, and 42 shares unchanged although value turnover was below average at P5.44 billion.

The market opened low and went down to 6,618.86 points, triggering bargain hunting and resulting in a high of 6,677.69 points. Market bellwether SM Investments went up by P9 to P851 with a volatile run as it hit a low of P840 and a high of P860.

Among the top gainers were PH Resorts, which gained 16.13 percent or 15 centavos to P1.08, and Manila Jockey up 16.28 percent or 21 centavos to P1.50.

Rounding out the pack of gainers were Security Bank, up P2.50 to P91, Ayala Corp, up P10.50 to P730, Synergy Grid, up 20 centavos to P13.42, Semirara Mining, up 80 centavos to P43, and Robinsons Retail, up 5 centavos to P61.

Among the losers were PLDT, down P4 to P1,730, Globe, down P36 to P2,264, Monde, down 34 centavos to P15.86, Emperador, down 5 centavos to P20.65, and San Miguel, down P1.10 to P100.90.

WEEKLY FEATURE : MVP Group Keeps Lights On During Pandemic