PSE Index Up But Fear Remains

The Philippine Stock Exchange index today turned up with a smallish gain, a 10.33-point rise or 0.14 percent to 7,163.21 points but fear remains with the market on the Ukraine crisis, the COVID-19 surge and the lack of good economic news.

Photo Insert: The Philippine Stock Exchange (PSE) Index, April 4, 2022

Value turnover was 40 percent off average at P3.87 billion and with 96 gainers, 83 losers and 56 shares unchanged. Investors were skittish with the market now due to the continued Ukraine hostilities that has bedeviled the energy prices, the lockdown in China and the lack of local economic news to propel the market.

Market bellwether SM Investments lost P8 to P890 leading to the decline in the holdings firm sub-index, the only loser among the sub-indices.

Financials were up by 0.06 percent, industrials by 0.83 percent, services by 0.12 percent, mining and oil by 1.44 percent, and property by 0.73 percent.

Emerging as the most active stock was Converge which lost 3.5 percent or P1.05 to P28.95 on trades of P449 million. Ayala Land and AC Energy followed with respective closing prices of P35.30, up by 35 centavos, and P8.86, up by 16 centavos.

PLDT was up by P20 to P1,815 while Globe was down by P22 to P2,498.

Meralco was unchanged at P373.60 while the losers included Semirara Mining, down by 30 centavos to P30.35, Ayala Corp., down P10 to P808, Monde, down by 22 centavos to P13.38, ICTSI, down by P1.80 to P224.80 and BDO Unibank, down P1.30 to P131.20.

Among the gainers were Jollibee up by P6 to P228, SM Prime, up 25 centavos to P38.15, Aboitiz Equity, up 45 centavos to P60, Metrobank , up 90 centavos to P56.90, Bank of PI, up 10 centavos to P99, PureGold, up P1.50 to P37.20, and Universal Robina, up P2.40 to P121.70.

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