PSE Index Up A Bit

The Philippine Stock Exchange (PSE) index went up a bit with a 12.26 points or 0.19 percent rise to 6,606.00 points in a shaky end for the week that saw the peso decline to P57 to a dollar as the US Fed indicated a hawkish stance that is seen to rock the markets again.

Photo Insert: The Philippine Stock Exchange (PSE) Index, September 9, 2022

Market bellwether SM Investments closed P25 higher to P865, but not after a volatile run seeing a low of P844 and a high of P875 as investors cashed in their gains while others hunted for bargains.

Market analysts said that investors have been a bit picky since the economic uncertainty brought by the Ukraine crisis that has been rocking the global economy, bringing about higher energy prices to supply chain disruptions.

Holding firms rose by 1.02 percent while financials went up by 0.78 percent, services by 0.33 percent, and mining and oil by 0.92 percent. Industrials lost 0.32 percent and property by 1.44 percent.

Value turnover remained low at P4.27 billion while there were 97 gainers, 77 losers, and 56 shares unchanged. There were four shares in the Top 20 traded that were unchanged from their Thursday close: PLDT at P1,654, Converge at P19.90 Ayala Land at P27.89, and Security Bank at P88.80.

San Miguel was the top traded stock though it went down by 20 centavos to P98.50 on trades of P497 million. SMC has been the top traded stock for the week as some investors sold down their shares.

Universal Robina rose by 60 centavos to P129, Abacore Holdings went up by another 4 centavos to P2.77, D.M. Consunji by 20 centavos to P10.50, Metrobank by 60 centavos to P53, Bank of PI by P1.05, ICTSI by P2.20 to P184.30, and ACEN by 4 centavos to P7.04.

Among the losers were Ayala Corp, down P7 to P717, Globe down by P33 to P2,090, Monde down by 4 centavos to P16.08, Emperador down 75 centavos to P20.10, and SM Prime by a peso to P36.40.

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