MODEL PORTFOLIO
THE GIST
NEWS AND FEATURES
Global Philippines Fine Living
INSIGHTS
INVESTMENT STRATEGY
Economy Stocks Bonds Currencies
THE BASICS
Investment Tips Explainers Retirement
WEBINARS
2024 Mid-Year Economi Briefing, economic growth in the Philippines
2024 Mid-Year Economic Briefing: Navigating the Easing Cycle
June 21, 2024
Investing with Love
Investing with Love: A Mother’s Guide to Putting Money to Work
May 15, 2024
retirement-ss-3
Investor Series: An Introduction to Estate Planning
September 1, 2023
View All Webinars
DOWNLOADS
investment-ss-3
Reports
Policy rate views: Fed expected to do baby steps
DOWNLOAD
economy-ss-9
Economic Updates
Inflation Update: Faster but full-year average within target
DOWNLOAD
948 x 535 px AdobeStock_433552847
Reports
Monthly Economic Update: Waiting on Jay Powell
DOWNLOAD
View all Reports
Metrobank.com.ph How To Sign Up
Follow us on our platforms.

How may we help you?

TOP SEARCHES
  • Where to put my investments
  • Reports about the pandemic and economy
  • Metrobank
  • Webinars
  • Economy
TRENDING ARTICLES
  • Investing for Beginners: Following your PATH
  • On government debt thresholds: How much is too much?
  • Philippines Stock Market Outlook for 2022
  • Deficit spending remains unabated

Login

Access Exclusive Content
Login to Wealth Manager
Visit us at metrobank.com.ph How To Sign Up
Access Exclusive Content Login to Wealth Manager
Search
MODEL PORTFOLIO THE GIST
NEWS AND FEATURES
Global Philippines Fine Living
INSIGHTS
INVESTMENT STRATEGY
Economy Stocks Bonds Currencies
THE BASICS
Investment Tips Explainers Retirement
WEBINARS
2024 Mid-Year Economi Briefing, economic growth in the Philippines
2024 Mid-Year Economic Briefing: Navigating the Easing Cycle
June 21, 2024
Investing with Love
Investing with Love: A Mother’s Guide to Putting Money to Work
May 15, 2024
retirement-ss-3
Investor Series: An Introduction to Estate Planning
September 1, 2023
View All Webinars
DOWNLOADS
investment-ss-3
Reports
Policy rate views: Fed expected to do baby steps
September 18, 2025 DOWNLOAD
economy-ss-9
Economic Updates
Inflation Update: Faster but full-year average within target
September 5, 2025 DOWNLOAD
948 x 535 px AdobeStock_433552847
Reports
Monthly Economic Update: Waiting on Jay Powell
September 2, 2025 DOWNLOAD
View all Reports
BusinessWorld 2 MIN READ

PSEi advances on bargain-hunting; SM shares rise

September 26, 2023By BusinessWorld
Related Articles
PH stocks fall on profit-taking after 3-day rally June 11, 2024 Disasters, debt crisis are seen as top risks for PHL January 12, 2023 Inflation, economic slowdown seen to hurt Philippines Inc.’s recovery May 9, 2023

Philippine stocks climbed on Monday as investors saw bargain-hunting opportunities while awaiting changes to the composite index that will take effect on Tuesday.

The Philippine Stock Exchange index (PSEi) gained 0.48% or 30.05 points to end at 6,172.84. The broader all-share index shed 0.24% or 8.20 points to 3,325.15.

“The market got another lift on the back of sustained bargain-hunting,” China Bank Capital Corp. Managing Director Juan Paolo E. Colet said in a Viber message. “Daily value turnover also spiked to more than P8 billion as institutions positioned for the changes to the PSE composite index.”

The stock rally remained prone to selling pressure “especially since we continue to see net selling by foreign investors,” he added.

Philstocks Financial, Inc. Research Analyst Claire T. Alviar said the bourse advanced “as investors continued to buy shares given the undervaluation of the PSEi.”

Value turnover went up to PHP 8.48 billion, with 1.79 billion shares changing hands. Value turnover on Friday was PHP 4.63 billion involving 1.09 billion shares.

Analysts said the higher value turnover was driven by the changes in the PSE’s composite index. Last week, the PSE announced changes to its indices effective Sept. 26.

The PSE took out Aboitiz Power Corp. and Metro Pacific Investments Corp. from the main index, replacing them with Bloomberry Resorts Corp. and Century Pacific Food, Inc.

SM Investments Corp.’s share price advance of 2.92% had helped lift the bourse given its substantial weight on the PSEi, Ms. Alviar said.

“SM is cheap from a fundamental perspective, and the technicals look promising, so we saw bargain-hunting emerge in that stock,” Mr. Colet said.

Almost all sectoral indices rose on Monday, except mining and oil, which dropped by 0.02% or 2.67 points to 10,384.79.

Holding companies climbed by 0.8% or 46.91 points to 5,861.86; property went up by 0.51% or 13.01 points to 2,565.98; financials gained 0.35% or 6.29 points to 1,794.52; services rose by 0.22% or 3.39 points to 1,491.93; and industrials increased by 0.2% or 18.33 points to 8,824.15.

Decliners outnumbered advancers 89 to 85, while 47 shares were unchanged.

Net foreign selling went up to PHP 316.23 million from PHP 57.56 million on Friday. —Sheldeen Joy Talavera, Reporter

This article originally appeared on bworldonline.com

Read More Articles About:
Worldwide News Philippine News Rates & Bonds Equities Economy Investment Tips Fine Living

You are leaving Metrobank Wealth Insights

Please be aware that the external site policies may differ from our website Terms And Conditions and Privacy Policy. The next site will be opened in a new browser window or tab.

Cancel Proceed
Get in Touch

For inquiries, please call our Metrobank Contact Center at (02) 88-700-700 (domestic toll-free 1-800-1888-5775) or send an e-mail to customercare@metrobank.com.ph

Metrobank is regulated by the Bangko Sentral ng Pilipinas
Website: https://www.bsp.gov.ph

Quick Links
The Gist Webinars Wealth Manager Explainers
Markets
Currencies Rates & Bonds Equities Economy
Wealth
Investment Tips Fine Living Retirement
Portfolio Picks
Bonds Stocks
Others
Contact Us Privacy Statement Terms of Use
© 2025 Metrobank. All rights reserved.

Access this content:

If you are an existing investor, log in first to your Metrobank Wealth Manager account. ​

If you wish to start your wealth journey with us, click the “How To Sign Up” button. ​

Login HOW TO SIGN UP