January 3, 2025 | 12:00am
MANILA, Philippines — The local stock market was off to a good start this year, finishing the first trading session of 2025 in positive territory.
STAR / File
Also closing higher by 0.18 percent or 6.59 points was the broader All Shares index at 3,755.10.
“Philippine shares started on a positive note, showing noticeable gains as the market gears up for a full year ahead,” Luis Limlingan of Regina Capital said.
Net value turnover, however, was thin at P2.8 billion.
Local sectors were dominated by those in the red, with the mining and oil index plunging by 1.74 percent.
Services gained the most, rising by 1.69 percent.
Market breadth was negative as decliners edged out advancers in a tight contest, 97 to 94, while 47 issues were unchanged.
ICTSI was yesterday’s top traded company, climbing by 3.37 percent to P399 per share, followed by SM Investments which ended flat at P899.
The Philippine Stock Exchange Inc. (PSE), which ushered in the first trading day of 2025 through a bell ringing activity yesterday, said that it is looking forward to a more robust trading year and better capital raising performance.
“At the PSE, we are always optimistic and hopeful and this year is no exception,” PSE president and CEO Ramon Monzon said.
“Our team will continue to work towards ticking off more items in our three-year strategic plan, which are initiatives that will contribute to the development of the local capital market and help us catch up with our peers in the region,” he said.
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