PSE Index Up Some More

Bargain hunters pushed up The Philippine Stock Exchange (PSE) index further and appeared poised to pierce its new resistance level at 6,600 points as all sub-indices posted gains to close 53.03 points higher or 0.83 percent to 6,483.11 points.

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

Value turnover also was almost average at P5.84 billion indicating a bias towards a further rise in investor sentiment with market charts showing that the index is set to soar beyond 6,500 points, its next resistance level. Even the shares that declined at the close hit higher share prices before investors took in their gains.

Market bellwether SM Investments was one of three share prices that posted losses at the close but it even went up higher before investors pocketed their profits.

SM went to as high as P803 before closing at P792, down by P3, while the other two, among the Top 20 active stocks, Universal Robina and Globe went to highs of P125.60 and P2,080 respectively before closing 10 centavos lower for the former at P124.70 and the latter to a high of P2,080 before closing P10 lower to P2,060.

There were 98 gainers and 78 losers with 49 shares unchanged. The financials gained 0.75 percent, industrials by 1.07 percent, holding firms by 0.29 percent, services by 1.34 percent, mining and oil by 0.18 percent, and property by 0.85 percent.

Among the top gainers were Concrete Aggregates B shares which rose by 10.91 percent to P62, up by P6.10 while Concrete Aggregates A shares went up by 8.05 percent to P47, up by P3.50.

Among the gainers were Ayala Corp which emerged most active withj trades of P440 million as it rose by P24 to P692.50, Security Bank, up P1.10 to P82.10, PLDT up P40 to P1,760, SM Prime up 50 centavos to P37.50, Semirara Mining up 5 centavos to P40.90, Ayala Land, up 5 centavos to P26, Meralco up P4.60 to P316.60, BDO Unibank up P1.40 to P118.70, ICTSI, up P2.90 to P187.90, Bank of PI up a peso to P94, Emperador, up 12 centavos to P19.24, Monde up 40 centavos to P15.50, and Puregold, up P10 to P2,060.

WEEKLY FEATURE : MVP Group Keeps Lights On During Pandemic