PSE Index Up On Bargain Hunting

Bargain hunting lifted The Philippine Stock Exchange today to 7,288.21 points, up by 35.57 points or 0.49 percent in more than average volume turnover of p6.27 billion.

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

The bargains were bought as the index dropped to a low of 7,242.08 with investors snapping oversold stocks and continued with a flourish that saw the index at its top price when the shortened trading ended.

Solar Philippines continued its upward trend finishing as the most traded stock with p8o4 million as it closed at p2.02, an increase of 6 centavos. SM Prime followed with p336 million as it went up by 65 centavos to p35.05

Another property stock Ayala Land, however, finished down by 35 centavos to p34.75 on p260 million in trades. Figaro ended the day a centavo higher to p0.78 while BDO Unibank towed the financial sub-index to a 0.02 percent decline as it lost 20 centavos to p127.20.

Other banks were also down, despite that Bank of PI rose by p1.30 to p94.90. Security Bank was shaved by p2.40 to p107.60, and Metrobank lost 75 centavos to p56.25.

Services went up by 0.72 percent on the back of the one peso increase in ICTSI shares to p202. The industrials went up by 1.02 percent, holding firms by 0.31 percent, and property by 0.63 percent. Mining and oil lost 0.98 percent.

There were 82 gainers, 96 losers, and 52 shares unchanged, which included market bellwether SM Investments, which closed at p950.

Among the gainers were Jollibee, up 3.80 to p232.80, Megaworld REIT, up 10 centavos to p22.10, PLDT, up 27 to p1, 886, AC Energy, up 4 centavos to p9.63, and Monde, up 16 centavos to p16.80.

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