PSE Index Up Fractionally

The Philippine Stock Exchange index today posted a fractional gain of 2.38 points or 0.04 percent after yoyoing to an up-and-down ride within a 47-point band as uncertainties remain the same and investors remain apprehensive.

Photo Insert: The Philippine Stock Exchange (PSE) Index, June 20, 2022

Value turnover was almost half of average at p3. 57 billion as global markets continue to grapple with the "R word," a recession that is seen to hit even the Philippines amid higher food and energy prices.

There were 81 gainers, 108 losers, and 52 shares unchanged.

The holding firms and the industrials with their index-heavy shares provided the backdrop for the smallish index gain as the four other sub-indices were in negative territory, financials down 0.07 percent, services down 0.67 percent, mining and oil down 0.99 percent, and property down a hefty 1.16 percent.

Holding firms gained 0.92 percent and industrials 0.06 percent.

Market bellwether SM Investments rose by p5 to P790 with just a low P20.8 million trade indicating the fearful take of investors that showed in the low of 6,302.50 points and a high of 6,349.01 points in the index.

Globe emerged as the most active stock with P117.09 million in trades as it lost 5.77 percent or P128 to P2,092 after its disclosure of a projected stock rights offering. Converge also lost 85 centavos to p19. 30 while PLDT declined by P34 to P1,830. Vista REIT and Ayala Land were unchanged at P1.71 and P27.80.

Property giant SM Prime lost 85 centavos to P36.90 while monde lost 18 centavos to P13.18 and LT Group went down by 8 centavos to P8.02.

Among the gainers were Metrobank, up 35 centavos to P50.90, BDO Unibank up P1.80 to P122.80, Jollibee up p4 to P196, PhilWeb up 47 centavos to P5.17, and ICTSI up P4.50 to P199.40.

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