PSE Index Up Again

The Philippine Stock Exchange (PSE) index shook off a lethargic start of investors cashing their gains, resulting in an initial decline before bargain hunters pushed it up to close at its high point, 6,949.39, up by 36.68 points or 0.53 percent.

Photo Insert: The Philippine Stock Exchange (PSE) Index, September 8, 2021

Only the mining and oil sub-index showed a loss, down by 0.31 percent as the top loser Manila Mining went down by 9.09 percent to P0.01, off by a tenth of a centavo. The services gained the most, 1.20 percent as ICTSI went up by P6.50 to P186.50 on trades of P293 million, the fourth most active stock of the day.

The financials and the industrials posted identical gains of 0.03 percent, the holding firms rose by 0.62 percent, and the property went up by 0.51 percent.

Market bellwether SM Investments advanced by P10 to P1,025, while LT Group went down by 17 centavos to P9.15. BDO Unibank also lost 50 centavos to P114.30 as Globe was unchanged at P2,790.

Value turnover amounted to P5,87 billion with 90 gainers, 84 losers, and 61 shares unchanged.

Ayala Land was the most active stock with P393 million in trades as it rose by 35 centavos to P33,80, while SM Prime gained 5 centavos to P33,95.

The market opened weak at 6,893.16 points and went down to a low of 6,865 before nosing up to its close, its highest index point for the day.

WEEKLY FEATURE : PAL READY TO SOAR WITH PANDEMIC