PSEi climbs as economy hangs tough | Inquirer Business

PSEi climbs as economy hangs tough

/ 02:12 AM August 10, 2023

MANILA  -The benchmark Philippine Stock Exchange index (PSEi) rose ahead of the release of second quarter 2023 gross domestic product (GDP) data on Friday.

The PSEi climbed 0.89 percent, or 57.48 points, to 6,530.45 while the broader All Shares index added 0.55 percent, or 19.05 points, to 3,480.16.

“Philippine stocks were bought ahead of the GDP release, as more earnings came out in line or above expectations,” said Luis Gerardo Limlingan, head of sales at stock brokerage house Regina Capital Development.


Most PSE subsectors closed higher, led by services and financials, which gained 1.36 percent and 1.18 percent, respectively. Mining and oil (-0.60 percent) was the sole loser during the session.


A total of 428.4 million shares valued at P3.4 billion changed hands while foreigners were net sellers amounting to P214.7 million.

BDO Unibank Inc. was the top traded stock as it rose 0.99 percent to P142.40 per share.

It was followed by Ayala Land Inc., flat at P29.40; SM Investments Corp., up 0.56 percent to P900; Bank of the Philippine Islands, up 2.30 percent to P115.80; and Metro Pacific Investments Corp., up 0.60 percent to P5 per share.

Overall, there were 92 losers against 89 advancers while 52 companies closed unchanged.

—Miguel R. Camus
Your subscription could not be saved. Please try again.
Your subscription has been successful.

Subscribe to our daily newsletter

By providing an email address. I agree to the Terms of Use and acknowledge that I have read the Privacy Policy.

TAGS: GDP, Philippine Stock Exchange index (PSEi), Stock Market

© Copyright 1997-2024 | All Rights Reserved

We use cookies to ensure you get the best experience on our website. By continuing, you are agreeing to our use of cookies. To find out more, please click this link.