PSEi: Updated PSE index stocks composition (Sept 2017)



What stocks currently comprise the Philippine Stock Exchange index or PSEi?

What’s the PSEi, in the first place?

Continue reading to have an idea why the knowing the PSE index stocks composition is vital to know.

What is the PSEi?

The PSEi is a collection of thirty (30) publicly traded stocks in the Philippine Stock Exchange (PSE). The performance, or day-to-day change in value, of this index is monitored every trading day because it is seen as a barometer of market sentiment and general economic conditions of the country.

A rising PSEi signals positive outlook in the performance of the 30 companies included in the index, and also acts as proxy for optimistic market and business conditions. Similarly, a declining PSEi could signal pessimism because this translates to lower expected financial returns from the companies belonging to the index.

Some would argue that the PSEi stocks are considered the “blue chip” stocks in the stock market. This is not necessarily true, since other companies may be considered “blue chips” — because they have more stable performance or more reliable returns — and yet they’re not part of the PSEi.

At the same time, to be part of the PSE index, companies need not be “blue chips” per se. They simply have to meet three factors to be eligible for PSEi inclusion.

*View the latest PSEi stock composition by clicking the image below:

PSEi Inclusion Criteria

The PSE looks at the following inclusion criteria when deciding which stocks to include in the index:

  • 1. Free Float — the stock must have a public float or minimum public ownership of at least 12%;
  • 2. Liquidity — stock must belong to the top 25% by median daily value turnover per month for at least nine out of 12 months; and
  • 3. Full Market Capitalization — stock should be one of the 30 companies with highest-ranked market capitalization (MCAP), measured by the company’s stock price multiplied by the number of shares being publicly traded.

The PSE regularly reviews the PSEi composition twice a year, once in March and another in September.

During the review period, a stock could be added to the index if it rises above the 25th position in terms of full market capitalization, replacing the company that ranks lower.

A stock, meanwhile, could be deleted from the PSEi if it falls below the 35th position in terms of full market capitalization.

Latest PSE index (PSEi) Composition, as of September 2017

Here are the 30 companies belonging to the PSEi effective September 28, 2017.

PSE Index (PSEi) StocksCompanyStock Code
1Ayala CorporationAC
2Aboitiz Equity VenturesAEV
3Alliance Global Group, Inc.AGI
4Ayala Land Inc.ALI
5Aboitiz PowerAP
6Banco de Oro Unibank, Inc.BDO
7Bank of the Philippine IslandsBPI
8Bloomberry Resorts Corp.BLOOM
9DMCI HoldingsDMC
10First Gen CorporationFGEN
11Globe TelecomGLO
12GT Capital HoldingsGTCAP
13International Container Terminal Services Inc.ICT
14Jollibee Foods CorporationJFC
15JG Summit HoldingsJGS
16LT GroupLTG
17Metropolitan Bank and Trust CompanyMBT
18Megaworld CorporationMEG
19Manila Electric CompanyMER
20Metro Pacific Investments CorporationMPI
21Puregold Price Club, Inc.PGOLD
22Robinsons Retail Holdings Inc.RRHI
23Robinsons Land CorporationRLC
24Semirara Mining CorporationSCC
25Security BankSECB
26SM Investments CorporationSM
27San Miguel CorporationSMC
28SM Prime HoldingsSMPH
29Philippine Long Distance Telephone CompanyTEL
30Universal Robina CorporationURC

RRHI replaces EDC in the PSEi

Effective September 28, 2017, the updated PSEi includes a brand-new addition — Robinsons Retail Holdings Inc. (RRHI) — replacing geothermal firm Energy Development Corp. (EDC).

EDC is removed from the PSEi because its free float level, which should be at least 12%, had dropped below the 12% minimum requirement after a tender offer was made by new investors to minority shareholders of EDC.

That’s the only change in the index composition after the PSEi review this September.

Rumors have it that EDC could eventually be delisted from the stock exchange. If this happens, here are options for EDC investors: What to do if your stock gets delisted?

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1 thought on “PSEi: Updated PSE index stocks composition (Sept 2017)”

  1. What are the weights of each stock that comprise the index? Example: if I had P10M, to mimic the index, is there a list of how many shares of each of these 30 stocks I should own? (if I can mimic the index, then I wouldn’t have to get an Index Fund, which still has management fees)

    Reply

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