PSE Index Up On Late Buying Surge

The Philippine Stock Exchange (PSE) index today surged on late buying with half of the total value turnover invested in the last 20 minutes of trading to see it gain 68.82 points or 1.01 percent to 6,855.44 points.

Photo Insert: The Philippine Stock Exchange (PSE) Index, August 31, 2021

Before the closing minutes, the PSE index was signaling a big decline of more than 80 points with P7 billion in total trades but late buying amounting to that amount saw the big weighted stocks rising to overcome the looming deficit with a total value turnover of P14.85 billion.

The industrials rose by 2.05 percent, holding firms, by 1.70 percent, services, up by 0.92 percent, and mining and oil by 1.09 percent, and property by 0.03 percent with the financials, the only losing sub-sector index, down by 0.67 percent.

BDO Unibank went down by P2.10 to P109.90 and Metrobank by 75 centavos to P45.20, while Bank of PI cushioned the fall in the financials with a rise in its share price to P83.20, up by 30 centavos, the second most active stock with trades of P1.003 billion.

Ayala Corp was the most active stock with P1.829 billion as it lost 50 centavos to P792.50 while Globe, the third most active with P972 million in trades, lost P128 to P2,720.

Ayala Land went up by 25 centavos to P33.75 while SM Prime was unchanged at P34. Also unchanged was JG Summit at P64.90 with trades of P633 million.

Among the rising stocks were Aboitiz Power, up by P1.80 to P28, ICTSI, up P8.10 to P186.10, Jollibee Foods, up by P2.20 to P201.80, and Monde Nissin, up 10 centavos to P16.84. There were a total of 65 gainers, 120 losers, and 55 shares unchanged.

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