With strong push from Ty-led firms, PSEi reclaims 6900

With strong push from Ty-led firms, PSEi reclaims 6,900

/ 02:10 AM February 23, 2024

MANILA  The Philippine Stock Exchange Index (PSEi) closed just above the 6,900 level on Thursday, bolstered by the strong performance of companies led by the billionaire Ty family.

The PSEi gained 0.08 percent, or 5.79 points, to 6,903.15 while the broader All Shares index added 0.05 percent, or 1.73 points, to 3,601.83.

The market was buoyed by gains of Ty-led Metropolitan Bank & Trust (Metrobank), which announced the declaration of record-high cash dividends after net income in 2023 jumped nearly 29 percent to P42.2 billion. The family holding firm GT Capital Holding also rallied.


READ: Metrobank to pay record dividends as 2023 earnings post 29% growth


Data from the stock exchange showed 529.43 million shares valued at P4.92 billion changing hands while foreigners were net buyers of an amount worth P114.63 million.

Top traded stocks

Holding firms and property led the sectors while financials underperformed.

Metrobank was the top traded stock as it added 2.30 percent to P60.05 per share.

It was followed by Ayala Land Inc., up 2.25 percent to P36.35; BDO Unibank Inc., down 1.27 percent to P155; International Container Terminal Services Inc., down 1.36 percent to P276.20; and SM Prime Holdings Inc., down 0.89 percent to P33.50 per share.

Ayala Corp. was up 0.91 percent to P721; Jollibee Foods Corp., down 1.07 percent to P258.20; GT Capital Holdings, up 4.06 percent to P718; Bank of the Philippine Islands, down 0.83 percent to P119; and Universal Robina Corp., down 0.88 percent to P113 per share.

Overall, there were 97 winners against 88 losers while 50 companies closed unchanged.

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

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