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Writer's pictureBy The Financial District

PSE Index Up On Bargain Hunting

The Philippine Stock Exchange (PSE) index today rose, clambering up a milestone level on bargain hunting to a hefty increase of 113.98 points or 1.85 percent, reaching 6,272.46 points.


The Philippine Stock Exchange (PSE) Index, June 24, 2024



Except for the mining and oil sub-index, which went down by 0.16 percent, all others posted gains, with property and services up by 3.52 percent and 2.46 percent respectively.


Financials went up by 0.78 percent, industrial by 0.77 percent, and holding firms up by 0.85 percent.



ICTSI was the most active stock with trades of P1.08 billion as it rose by 4.75 percent to P331, higher by P15, followed by Bank of PI with P454 million as it rose P1.70 to P111.50. Market bellwether SM Investments had a subdued rise of P2.50 to P838.50.


But even with the bargain hunting, foreign selling continued. Net foreign selling hit P401 million on transactions of P2.859 billion in foreign buying and P3.262 billion in foreign selling.



Also, losers were ahead of gainers, 105 to 80, with 46 shares unchanged. Total trades amounted to P6.272 billion.


Among the gainers were SM Prime, Ayala Land, PLDT, Jollibee Foods, Ayala Corp, Century Food, Metrobank, ACEN Corp, Belle Corp, Nickel Asia, Aboitiz Power, Meralco, Manila Water, SPNEC, and Universal Robina.



Also ending the day in the red were GT Capital, Globe Telecom, Converge, PAL, Philex, and Oceana Gold. Unchanged were Alternergy, Citicore RE, Axelum, Monde Nissin, JG Summit, Robinsons Land, and Security Bank.


The losers were Union Bank, DigiPlus, PNB, Basic Energy, First Gen, Petron, Semirara Mining, Megawide, Megaworld, GMA-7, Figaro Coffee, Ginebra, ABS-CBN, Cebu Air, Roxas and Co, D&L Industries, LT Group, Wilcon Depot, Puregold, AgriNurture, Emperador, Apex Mining, Oriental Petroleum, and Philodrill.




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