PSE Index Up Anew

The Philippine Stock Exchange (PSE) index rose again today as investors positioned themselves ahead of a possible lifting of the hard lockdown closing 47.73 points or 0.73 percent to 6,561.42 points.

Photo Insert: The Philippine Stock Exchange (PSE) Index, August 17, 2021

Value turnover hit another above-average trade of P6.76 billion with 97 gainers, 98 losers, and 50 shares unchanged with the mining index the only losing sub-index as it dropped by a smallish 0.04 percent.

Property stocks surged while some financials went down as investors remained picky and bargain hunters were pocketing their gains while others bought oversold stocks.

Ayala Land and SM Prime went up by 5 centavos to P32.85 and by 75 centavos to P33.95, respectively pushing the property sub-index by 1.26 percent. The financials were up by 0.48 percent, industrials by 0.97 percent, holding firms by 0.23 percent, and services by 0.73 percent.

Globe emerged as the most active stock with trades of P539 million as it rose by a big increase of P72 to P2,082, while Ayala energy was the second heaviest traded stock at P380 million, although it lost 21 centavos to P9.01. Converge was up 30 centavos to P27.30.

Market bellwether SM Investments lost P4 to P960, while Jollibee gained P5.70 to P193. Bank of PI and Metrobank posted losses of 80 centavos to P83.20 and 20 centavos to P45.30 respectively.

Market players said that the buying today was to position ahead of fewer lockdown guidelines from the government as business organizations have voiced out their misgivings in the ECQ that led to losses of up to P260 billion to the economy.

WEEKLY FEATURE : PAL READY TO SOAR WITH PANDEMIC