PSE Index Up Anew

The Philippine Stock Exchange index today continued its upward trend, rising higher from its small increase at the market break to close with a respectable gain of 92.54 points or 1.42 percent to 6,594.66 points.

Photo Insert: The Philippine Stock Exchange (PSE) Index, May 17, 2022

Investors again pushed up blue-chip prices after the resumption of trading with just two of the Top 20 active stocks showing losses on account of profit-taking. Only the services sub-index posted a decline of a smallish 0.11 percent, with holding firms posting a hefty rise of 2.13 percent followed by property up by 1.67 percent and financials up by 1.22 percent.

The industrials and mining and oil posted slight increases of 0.60 percent and 0.65 percent.

Total trade was again at a healthy clip of 18 percent above average to p7. 32 billion with 109 gainers, 88 losers, and 50 shares unchanged. Only ICTSI and Jollibee went down on profit-taking closing respectively at P203, down by P4.60, and P297, down by P3.

SM Prime emerged as the most active stock with trades of P639 million closing at P36.80, up by 30 centavos, followed by BDO Unibank with P593 million as it closed 50 centavos higher to P126.50.

Market bellwether SM Investments added P24 to close at P832. Investors' optimism arose from the release of first quarter financial results that saw listed shares posting higher profits.

Ayala Corp was up by P22 to P675, Globe by P128 to P2,408, PLDT by P15 to P1,965, Megaworld by 8 centavos to P2.80, Monde by 28 centavos to P14.60, Bank of PI by P2.20 to P92.80, Metrobank by P1.50 to P51.50, Security Bank by 10 centavos to P92.80, Aboitiz Equity by 70 centavos to P48, Solar Philippines by 14 centavos to P1.75, and Ayala Land by 1.05 to P29.45.

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