PSE Index Up Anew

The Philippine Stock Exchange (PSE) index ended the day up, reaching a milestone level due to a flurry of late trades in the last five minutes of trading, resulting in a 69.57 point rise, or an increase of 1.06 percent, to 6,628.20 points.

The Philippine Stock Exchange (PSE) Index, May 16, 2024

Before the closing minutes, the index was up just 32 points, but transactions in ACEN Corp, the new market darling due to its inclusion in the Morgan Stanley Composite Basket, and other blue chips pushed the index higher.

Only the Financials sector was in the red, down by 0.33 percent, while Industrials rose by 0.02 percent, Holding Firms by 1.64 percent, Services by 0.19 percent, Mining and Oil by 0.20 percent, and Property up by 3.73 percent.

Value turnover amounted to P7.045 billion, of which P2 billion was transacted in the last five minutes. Foreign buying amounted to P3.414 billion while foreign selling hit P3.611 billion, resulting in net foreign selling of P196 million.

Market bellwether SM Investments was up, along with Ayala Corp, Globe Telecom, Jollibee Foods, Ayala Land, SM Prime, Keppel Properties, Bank of the Philippine Islands (BPI), Union Bank, and SPNEC.

Other gainers included Converge, Cebu Air, Alternergy, First Gen, Synergy Grid, Semirara Mining, Petron, Axelum, Century Food, D&L Industries, Emperador, Figaro Coffee, Ginebra, Roxas and Co., Universal Robina, Megawide, JG Summit, Ayala REIT, DoubleDragon, Megaworld, Robinsons Land, ABS-CBN, GMA-7, and PLDT.

Among the losers were BDO Unibank, ICTSI, Metrobank, Steniel Manufacturing, Cemex Holdings, DigiPlus, Philippine Seven Corporation (Phil Seven), SSI Group, GT Capital, San Miguel, and DMCI Holdings.

Meralco and Philex Mining remained unchanged. There were 120 gainers, 78 losers, and 46 shares unchanged.