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The Philippine Stock Exchange (PSE) index showed a significant upswing today, with all sub-indices closing higher after a substantial recovery just before the close.
The Philippine Stock Exchange (PSE) Index, December 12, 2023
The index gained 64.10 points or 1.03 percent, reaching 6,292.39 points. Bargain hunters played a crucial role in pushing up share prices, facilitating a late recovery in the market. Thirty minutes before the close, the holding firm was experiencing a decline.
However, a late charge by bargain hunters pushed it up to a 0.86 percent increase. The market bellwether rebounded from a low of P826 to end higher at P839, marking a gain of P4.
Other holding firms also recovered from their losses; Aboitiz Equity closed at its highest price point of P48.75, up by 80 centavos after hitting a low of P47.15. Ayala Corp gained P12 to reach P660 after hitting a low of P638.50, and JG Summit rose by 55 centavos to P38.45 after hitting a low of P37.20.
Financials posted the most substantial gain of 1.54 percent, with BDO Unibank emerging as the most active with trades of P379 million.
It ended P1.60 higher at P125. Bank of PI also rose by P3 to P102.50, while Metrobank remained unchanged at P51.45, and Security Bank increased by 30 centavos to P69.40.
Services rose by 0.79 percent, industrial by 0.65 percent, property by 0.89 percent, and mining and oil by 0.22 percent. The value turnover amounted to P3.24 billion, with 97 gainers, 61 losers, and 55 shares unchanged.
Among the gainers were Universal Robina, up by P3.10 to P115, SM Prime, up by 50 centavos to P33.20, Jollibee Foods, up by 40 centavos to P239.20, Converge, up by 7 centavos to P7.80, Dito CME, up by 1 centavo to P2.26, Robinsons Land, up by 12 centavos to P15.20, Global Ferronickel, up by 3 centavos to P2.27, Puregold, up by 60 centavos to P27.15, and SPNEC, up by 1 centavo to P1.14.
The losers included Acen Corp, continuing its downward trajectory to P4.38, down by 8 centavos, GT Capital, down by P7.50 to P537, Semirara Mining, down by 20 centavos to P28.60, Atlas Mining, down by 3 centavos to P3.31, while Globe Telecom and PLDT remained unchanged at P1,718 and P1,265, respectively.
