PSE Index Up But Weakness Seen

The Philippine Stock Exchange index today posted a rise but weakness in the market was noticeable in below-average value turnover, as it closed at 7,124.84 points, up by 42.23 points or 0.60 percent.

Photo Insert: The Philippine Stock Exchange (PSE) Index, March 25, 2022

Opening lower from its Thursday close, the index immediately went down to a low of 7,048.53 points and it gathered momentum on bargain hunting with the last push coming at the close to end at its high price point.

But the weakness is noticeable from the low value turnover of a half-million-peso short of average trades with p5.47 billion as investors mostly stayed in the sidelines with the lack of great economic news.

Four of the sub-indices were up while mining and oil and property posted respective losses of 0.57 percent and 0.23 percent. There were 93 gainers and 84 losers, while 53 shares were unchanged, among them Ayala Land at P36, and Monde at P13.50.

Bank of PI was up 90 centavos to p99.90, BDO unibank by p2.50 to p132.50 and metro bank up by P1. 60 to P54.55 to push the financials up by 1.27 percent. The other gainers were industrials up by 0.37 percent, holding firms by 0.40 percent and services by 1.24 percent.

Converge was the most active with trades of p478 million as it went up by 70 centavos to P28.50 while PLDT rose by P19 to P1,850.

The other gainers were market bellwether SM Investments, up P12 to P897, AC Energy, up 15 centavos to P8.30, Solar Philippines, up by 3 centavos to P2, Synergy Grid up 6 centavos to p+P12. 26, Holcim, up 19 centavos to P5.74, and Emperador, up 2 centavos to P14.64.

The losers included SM Prime, down 25 centavos to P37.70, Ayala Corp, down P1.50 to P817.50, Nickel Asia, down 1 centavos to P9.22.

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