PSE Index Up In Roller-Coaster Ride

The Philippine Stock Exchange index today rose after a roller-coaster ride in trading, opening a tad higher than its Monday close and going down by more than 80 points before recovering its early losses and finishing the day recouping its losses, advancing 81.63 points or 1.21 percent to 6,802.73 points.

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

Megaworld REIT emerged as the most active stock with trades of P1.85 billion as it closed 2 centavos higher to P17.52 after the company disclosed that its distributable income for the first quarter amounted to P639 million translating into an 18 percent rise from its year-ago level and captivating the eyes of investors who went gaga for property stocks.

Robinsons Land went up by 8 centavos to P19.18 while SM Prime gained a hefty P1.75 to P36.75, to push the property sub-index to a gain of 2.42 percent even with the losses from Ayala Land of 10 centavos to P32.

The other sub-indices that advanced were financials, up by 1.77 percent, industrials, up by 1.34 percent, and services up by 0.36 percent, The holding and mining and oil sub-indices declined by 0.04 percent and 1.88 percent respectively.

Value turnover amounted to P6.92 billion with 64 gainers, 124 losers, and 54 shares unchanged. Market bellwether SM Investments closed unchanged at P849 after declining to as low as P825 during the sell-down that characterized trading in mid-trade.

ICTSI went down by 60 centavos to P215, Ayala Corp. by P8 to P730, BDO Unibank, down by 20 centavos to P127.80, JG Summit, down by 20 centavos to P55.50, Phinma, down by 2 centavos to P19.88 and Globe down by P52 to P2,222.

Among the gainers were Monde, up by 50 centavos to P13.90, Converge, up 90 centavos to P28.20, Bank of PI, up by P4 to P97.90, Universal Robina, up by P6 to P110.80, PLDT, up by P24 to P1,889, Metrobank, up by P1.95 to P52, and AC Energy, up by 8 centavos to P19.80.

WEEKLY FEATURE : MVP Group Keeps Lights On During Pandemic