PSE Index Up Anew

The Philippine Stock Exchange (PSE) index rose anew, bucking an early sign of a decline as foreign investors came in buying up selected blue chips to push it to within sight of a new milestone level at 6,970.51 points, up 46.49 points or 0.67 percent.

Photo Insert: The Philippine Stock Exchange (PSE) Index, September 10, 2021

Diversified securities' Ardee Garcia said that in the early going the market was signaling a decline until the foreign investors came in to push the index to within a striking distance of the 7,000 point milestone.

Only the financials posted a loss with a slight drop of 0.14 percent while all the other sub-indices rose. The mining and oil sub-index gained the most with a 1.72 percent rise followed by services, up 1.66 percent. The holding firms were up 0.84 percent, industrials by 0.68 percent, and property, by 0.16 percent.

Value turnover was low though as many investors remain uncertain about the pandemic's effect on the economy with trades of P4.87 billion with 100 gainers, 90 losers, and 54 shares unchanged.

AC Energy was the most active stock with trades of P464.8 million as it went up by 12 centavos to P10.16, followed by SM Prime with trades of P380.8 million as it closed lower by 25 centavos to P33.45, while ICTSI rose by P4 to P190 with trades of P290 million.

Monde Nissin and Globe rose respectively by 12 centavos to P17.48 and P72 to P2,862. BDO Unibank was unchanged at P114.80, while Bank of PI went down by 10 centavos to P82.80.

Market bellwether SM Investments was up by P7 to P1.015, while Ayala Corp declined by P4 to P814. Converge rose by 50 centavos to P32.30, while PLDT was also up by P7 to P1,446.

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