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PSE Index Up After Roller Coaster Ride
- By The Financial District
- Feb 22, 2022
- 2 min read
The Philippine Stock Exchange (PSE) index today ended trading up after a roller coaster ride as investors picked up bargains after a brutal beating until past mid-session with the sub-indices turning to green after pulsating a red signal to close 68.66 points or 0.93 percent up to 7,440.91 points.
Photo Insert: The Philippine Stock Exchange (PSE) Index, February 22, 2022
After the mid-session, only the mining and oil sub-index was up but as investors gobbled up shares that were sold down in bargain-hunting mode, three other sub-indices recovered with the industrials up by 0.45 percent, holding firms, by 1.91 percent, services up by 1.14 percent and mining and oil up by 1.86 percent.
Only the financials and property were down by 0.10 percent and 0.22 percent respectively.
Market bellwether SM Investments mirrored the up-and-down volatility in the market as it nosedived to a low of P856.50 after opening a peso and half at P861.50 and then zoomed to a high of P897.50 before closing a notch down at P895, for a gain of P35 on trades of P709 million, the second most active stock for the day.
Citicore REIT, which debuted today, finished strong at P2.84, up by 29 centavos from its IPO price with a hefty trade of P1.482 billion. It was the top gainer, too, in the otherwise volatile trading activity as investors pushed up oversold stocks and others pocketed their gains. Value turnover was double the average at P12.85 billion.
There were 94 gainers against 88 losers with 54 shares unchanged. Among those unchanged were Ayala Corp. which closed at P860, BDO Unibank at P135, and Converge at P26.90.
Among the gainers were ICTSI, up to P8 to P220, Dito CME, up 29 centavos to P6.90, Solar Philippines, up 6 centavos to P1.92, Nickel Asia, up 25 centavos to P7.50, and Jollibee up P1.80 to P249.80.
Among the stocks that declined were Monde, down 4 centavos to P15.48, Globe , down P40 to P2,660, Bank of PI down 70 centavos to P99, SM Prime, down 5 centavos to P39.85.
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