PSE Index Up In Volatile Trade

The Philippine Stock Exchange (PSE) today recovered its losses in the mid-canto after flashing red signs as bargain hunters came in after the market dropped to its lowest at 6,077.38 points and clawed back its losses, to end the day with a small 19.67 point rise or up 0.32 percent to 6,148.31 points.

Photo Insert: The Philippine Stock Exchange (PSE) Index, October 19, 2022

Value turnover, however, was muted with just P4.1 billion in trades, two-thirds of average daily transactions, as property firms started the day with gains and then hit new lows on profit-taking resulting in the property sub-index losing 0.54 percent.

Top traded Ayala Land closed unchanged although it had a volatile run of a high and low of P26.05 and P25.40 before closing unchanged at P25.80 with trades of P344 million while another property giant, SM Prime had a high and low of P34.05 and P33 before closing 30 centavos lower to P33.70 with a turnover of P251 million.

Financials also lost 0.16 points as Metrobank went down by 90 centavos to P51 while BDO Unibank was unchanged at P123. Bank of PI went up by 20 centavos to P92.

Market bellwether SM Investments also had a volatile run with a high and low of P799, its closing price, and P780 to end with a P13 rise. The holding firms rose by 0.26 percent, industrials by 0.91 percent, services by P1.50, and mining and oil by 0.09 percent.

Port operator ICTSI was down by P3.20 to P173.40 but Globe Telecom and PLDT posted gains of P94 to P2,400 and P111 to P1,590.

Converge was down by 10 centavos to P12.50 while ACEN Corp was up by 10 centavos to P6.15. Meralco went up by 60 centavos to P296 while Metro Pacific was down by 9 centavos to P3.61.

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