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PSE Index Up Again
- By The Financial District
- Jun 8, 2022
- 2 min read
The Philippine Stock Exchange (PSE) index today went up anew in another roller-coaster ride as investors remained choosy in their share buys with stocks going into volatile runs based on buy-and-sell orders, to finish at 6,769.62 points, up by 15.61 points or 0.23 percent.
Photo Insert: The Philippine Stock Exchange (PSE) Index, June 8, 2022
Market analysts see sideways movements in the index due to the lack of catalysts as the bearish sentiments embrace the market with the Ukraine crisis that has led to the upsurge in inflation rates on a global scale that would lead to hikes in interest rates that take up money destined for the stock market.
Market bellwether SM Investments showed the way for the current trading performance as it went up to a high of P864 before hitting a low of P852, its closing price for a loss of P12 on trades of P180 million.
Similarly, other stocks also performed in volatile runs as the sub-indices finished with three gainers and three losers.
Financials rose 0.85 percent, industrials by 0.69 percent, and holding firms rose by 0.22 percent while the services lost 0.47 percent, mining and oil by 0.07 percent, and property by 0.04 percent.
Property giants Ayala Land and SM Prime closed in opposite directions with the former, which emerged most active with P698 million, advanced by P1.05 to P32 while SM Prime with trades of P539 million, lost 75 centavos to P38.35.
New IPO Aslag finished at P2.02 after a volatile run yesterday where it went up to as high as P2.48 and a bottom of P1.85. Globe was up by P50 to P2,444 while PLDT was down by P17 to P1,915 showing the different directions that shares took as investors remained picky with their buys.
Total trade remained below average at P5.3 billion with 109 gainers, 78 losers, and 46 shares unchanged.
BDO Unibank went up by 70 centavos to P129, Metrobank lost 20 centavos to P53.80 after going up to P54.35 and hitting a low of P53.20, Holcim shares rose by 15 centavos to P5.45, while Monde went up to P14, up by 20 centavos but not after going through a high of P14.18 and a low of P13.82.
