PSE Composite Index

{{short description|Most important index of top companies on the Philippine Stock Exchange}}

{{Infobox financial index

| name = PSE Composite Index

| logo =

| logo_upright =

| image =

| image_upright=

| alt =

| caption =

| foundation =

| operator = Philippine Stock Exchange

| exchanges = Philippine Stock Exchange

| symbol = PSEi

| constituents = 30

| cap_level = Large cap

| mcap =

| weighting =

| related = PSE All Shares Index

| homepage =

| isin =

| reuters = PSI

| bloomberg = PCOMP:IND

}}

The PSE Composite Index, or the PSEi (previously PHISIX), is a stock market index of the Philippine Stock Exchange (PSE) always consisting of 30 of the largest companies traded on the stock exchange.{{cite web | url=http://www.pse.com.ph/stockMarket/marketInfo-marketActivity.html?tab=1 | title=The Philippine Stock Exchange | access-date=September 17, 2014}} This is in contrast to the PSE All Shares Index which is an index of all stocks traded on the PSE.

The highest closing value was 9,041.20 on Friday, January 26, 2018.{{cn|date=October 2023}} The highest intraday value was 9,078.37 on Monday, January 29, 2018.{{cn|date=October 2023}}

It is the PSE's only broad-base index and is seen as an indicator of the general state of the Philippine business climate,{{cite conference |first=Jeaneth Michelle L. |last=Balaba |title=Does the Stock market Drive the Philippine Economy? |url=http://www.dlsu.edu.ph/conferences/dlsu-research-congress-proceedings/2017/RVREBM/RVREBM-I-003.pdf |conference=DLSU Research Congress 2017 |conference-url=http://www.dlsu.edu.ph/conferences/dlsu_research_congress/2017/default.asp |date=June 20–22, 2017 |access-date=July 31, 2018}} although there is evidence the index may not be a reliable indicator of the state of the broader Philippine economy.{{cite news |author=Heydarian, Richard Javad |title=Philippine Stocks Crash: Symptom of Growing Economic Imbalances |work=HuffPost |date=March 20, 2013 |access-date=July 31, 2018 |url=https://www.huffingtonpost.com/richard-javad-heydarian/philippine-stocks-crash-s_b_2900518.html }}

The PSE revises the list at least twice a year based upon requirements that include a minimum public float level of 20% (increased from 12% in 2018) and criteria for market liquidity and market capitalization.{{Cite news|url=http://bworldonline.com/no-change-pse-index-sectors-undergo-revamp/|title=No change in PSE index; sectors undergo revamp|last=Resane|first=Andrea Mei B.|date=February 13, 2018|work=BusinessWorld|access-date=March 27, 2018|language=en-US}}

Formula

The following formula is used by the PSE to calculate the index's value:

$\mathsf{PSE\ Index_t={\textstyle \sum_{i=1}^n(P_i\times S_i\times F_i) \displaystyle\over\ b}\times PSE\ Index_{t-1}}$ {{Cite web |title=PSE Policy on Index Management |url=https://documents.pse.com.ph/wp-content/uploads/sites/15/2021/08/Policy-on-Index-Management-ver.-2021-clean.pdf }}

Where:

n = Total number of component companies (30)

$\mathsf{P_i}$ = Closing price of company i at day t

$\mathsf{S_i}$ = Available shares of company i at day t

$\mathsf{F_i}$ = Company free float level (0 to 1), where 1 means 100% free float.

b = Free float-adjusted market capitalization base

Current components

These are current as of February 2022:{{Cite web|date=August 5, 2021|title=PSEi revised, ACEN and CNVRG added|url=https://mb.com.ph/2021/08/05/psei-revised-acen-and-cnvrg-added/|access-date=August 19, 2021|website=Manila Bulletin|language=en-US}}

class="wikitable"

!Company

!Ticker symbol

!Also a component of the

Aboitiz Equity Ventures

|{{Pse|AEV}}

|PSE Holding Firms Index

ACEN Corporation

|{{Pse|ACEN}}

|PSE Industrial Index

Alliance Global

|{{Pse|AGI}}

|PSE Holding Firms Index

Ayala Corporation

|{{Pse|AC}}

|PSE Holding Firms Index

Ayala Land

|{{Pse|ALI}}

|PSE Property Index

Banco de Oro

|{{Pse|BDO}}

|PSE Financials Index

Bank of the Philippine Islands

|{{Pse|BPI}}

|PSE Financials Index

Bloomberry

|{{Pse|BLOOM}}

|PSE Services Index

Century Pacific Food

|{{Pse|CNPF}}

|PSE Industrial Index

Converge ICT

|{{Pse|CNVRG}}

|PSE Services Index

DMCI Holdings

|{{Pse|DMC}}

|PSE Holding Firms Index

Emperador, Inc.

|{{Pse|EMI}}

|PSE Industrial Index

Globe Telecom

|{{Pse|GLO}}

|PSE Services Index

GT Capital

|{{Pse|GTCAP}}

|PSE Holding Firms Index

International Container Terminal Services

|{{Pse|ICT}}

|PSE Services Index

JG Summit Holdings

|{{Pse|JGS}}

|PSE Holding Firms Index

Jollibee Foods Corporation

|{{Pse|JFC}}

|PSE Industrial Index

LT Group

|{{Pse|LTG}}

|PSE Holding Firms Index

Meralco

|{{Pse|MER}}

|PSE Industrial Index

Metrobank

|{{Pse|MBT}}

|PSE Financials Index

Monde Nissin

|{{Pse|MONDE}}

|PSE Industrial Index

Nickel Asia Corporation

|{{Pse|NIKL}}

|PSE Mining and Oil Index

|{{Pse|TEL}}

|{{Pse|PGOLD}}

San Miguel Corporation

|{{Pse|SMC}}

|PSE Holding Firms Index

Semirara Mining and Power Corporation

|{{Pse|SCC}}

|PSE Mining and Oil Index

SM Investments Corporation

|{{Pse|SM}}

|PSE Holding Firms Index

SM Prime Holdings

|{{Pse|SMPH}}

|PSE Property Index

Universal Robina

|{{Pse|URC}}

|PSE Industrial Index

Wilcon

|{{Pse|WLCON}}

|PSE Services Index

Previous components

class="wikitable"

!Company

!Ticker symbol

!Times included

!Notes

ABS-CBN Corporation

|{{Pse|ABS}}

|Removed May 2008,{{Cite web|date=April 28, 2008|title=PSE to change composition of indices on May 26|url=https://news.abs-cbn.com/business/04/28/08/pse-change-composition-indices-may-26|url-status=|access-date=August 19, 2021|website=ABS-CBN News|language=en}} removed November 2009,{{Cite web|date=October 22, 2009|title=PSE to join main index for the first time|url=https://news.abs-cbn.com/business/10/22/09/pse-join-main-index-first-time|url-status=|access-date=August 19, 2021|website=ABS-CBN News|language=en}} re-added May 2010,{{Cite web|date=May 5, 2010|title=ABS-CBN back in PSE main index|url=https://news.abs-cbn.com/business/05/05/10/abs-cbn-back-pse-main-index|url-status=|access-date=August 19, 2021|website=ABS-CBN News|language=en}} removed September 2011{{Cite web|last=Alcuaz|first=Coco|date=August 25, 2011|title=San Miguel, Cebu Air, SMDC join index; darling stock Lepanto out|url=https://news.abs-cbn.com/business/08/25/11/san-miguel-cebu-air-smdc-join-index-darling-stock-lepanto-out|url-status=|access-date=August 19, 2021|website=ABS-CBN News|language=en}}

Belle Corporation

|{{Pse|BEL}}

|Component since September 2001,{{Cite web|first1=Christina|last1=Mendez|first2=Conrado Jr.|last2=Diaz|title=PSE reconstitutes main index|url=https://www.philstar.com/business/2001/09/18/134069/pse-reconstitutes-main-index|access-date=August 19, 2021|website=Philstar.com}} removed May 2008, re-added September 2011, removed August 2013{{Cite web|last=Rivera|first=Danessa O.|title=LT Group, GT Capital replace Meralco, Belle Corp. in benchmark PSEi|url=https://www.gmanetwork.com/news/story/323986/money/companies/lt-group-gt-capital-replace-meralco-belle-corp-in-benchmark-psei/|access-date=August 19, 2021|website=GMA News Online|language=en}}

Benpres Holdings

|Component since September 2001

|Renamed into Lopez Holdings Corporation ({{Pse|LPZ}})

Bloomberry Resorts Corporation

|{{Pse|BLOOM}}

|Removed February 2022{{Cite web|last=|date=February 6, 2022|title=PSEi to move sideways on rebalancing, oil prices|url=https://www.bworldonline.com/psei-to-move-sideways-on-rebalancing-oil-prices/|access-date=February 7, 2022|website=BusinessWorld Online|language=en-US}}

C&P Homes

|CMP

|Component since September 2001

|Now part of Vista Land ({{Pse|VLL}})

Cebu Pacific

|{{Pse|CEB}}

|Added September 2011, removed September 2012{{Cite web|last=Miraflor|first=Madelaine B.|date=August 24, 2012|title=Petron replaces Cebu Air at stock index|url=https://www.manilatimes.net/2012/08/24/business/petron-replaces-cebu-air-at-stock-index/870547|access-date=August 19, 2021|website=The Manila Times|language=en}}

Chinabank

|{{Pse|CHIB}}

|Added May 2010

Digital Telecommunications Philippines

|DGTL

|Component since September 2001

|Bought by PLDT ({{Pse|TEL}})

DMCI Holdings

|{{Pse|DMC}}

|Removed May 2008, re-removed August 2021{{Cite web|date=August 5, 2021|title=PSEi revised, ACEN and CNVRG added|url=https://mb.com.ph/2021/08/05/psei-revised-acen-and-cnvrg-added/|access-date=August 19, 2021|website=Manila Bulletin|language=en-US}}

Emperador, Inc.

|{{Pse|EMP}}

|Added September 2015,{{Cite web|title=Emperador a blue chip under revised PSE index|url=https://www.philstar.com/business/2014/08/28/1362390/emperador-blue-chip-under-revised-pse-index|access-date=August 19, 2021|website=Philstar.com}} removed March 2017,{{Cite web|date=February 22, 2017|title=Emperador out, Puregold in when PSEi recomposes in mid-March|url=https://businessmirror.com.ph/2017/02/22/emperador-out-puregold-in-when-psei-recomposes-in-mid-march/|access-date=August 19, 2021|website=BusinessMirror|language=en-US}} re-added August 2020,{{Cite news|title=Emperador set to join 30-company PSE index|language=en|work=Manila Standard|url=https://www.manilastandard.net/business/corporate/330818/emperador-set-to-join-30-company-pse-index.html|access-date=August 19, 2021}} re-removed August 2021, re-added February 2022

Empire East Land

|{{Pse|EEI}}

|Added April 2006{{Cite web|date=March 18, 2006|title=Holcim, Piltel taken out of stock index|url=https://www.manilatimes.net/2006/03/18/business/holcim-piltel-taken-out-of-stock-index/791023|url-status=|access-date=August 19, 2021|website=The Manila Times|language=en}}

Energy Development Corporation

|EDC

|Removed September 2017{{Cite web|author=Dumlao Abadilla, Doris|date=September 26, 2017|title=RRHI to join PSEi, replacing EDC|url=https://business.inquirer.net/237511/rrhi-join-psei-replacing-edc|access-date=August 19, 2021|website=INQUIRER.net|language=en}}

|Renamed into Lopez Holdings Corporation ({{Pse|LPZ}})

Equitable PCI Bank

|EPCI

|Bought by Banco de Oro ({{Pse|BDO}})

Fil-Estate Land

|Removed September 2001

|Bought by Alliance Global ({{Pse|AGI}})

Filinvest

|{{Pse|FDC}}

|Removed September 2001, removed September 2011

First Philippine Holdings Corporation

|{{Pse|FPH}}

|Removed September 2011

GMA Network

|{{Pse|GMA7}}

|Added May 2009{{Cite web|last=Peña|first=Zinnia B. Dela|title=PSE reconstitutes indices|url=https://www.philstar.com/business/2009/04/17/457922/pse-reconstitutes-indices|access-date=August 19, 2021|website=Philstar.com}}

Holcim Philippines

|{{Pse|HLCM}}

|Removed April 2006

La Tondeña Distillers

|LTDI

|Component since September 2001

|Bought by San Miguel Corporation ({{Pse|SMC}}); renamed as Ginebra San Miguel ({{Pse|GSMI}})

Lepanto Mining

|{{Pse2|LC|LCB}}

|Removed September 2011

Manila Mining

|{{Pse2|MA|MAB}}

|Added April 2006

Music Corporation

|MUSX

|Added September 2001

|Now Green Holdings, Inc. ({{Pse|GREEN}})

Petron Corporation

|{{Pse|PCOR}}

|Removed May 2008, re-added May 2009, re-added September 2012, removed February 2018{{Cite web|last=Cabuag|first=V. G.|date=February 11, 2019|title=Petron out, Bloomberry in at benchmark PSEi {{!}} VG Cabuag|url=https://businessmirror.com.ph/2019/02/11/petron-out-bloomberry-in-at-benchmark-psei/|access-date=August 19, 2021|website=BusinessMirror|language=en-US}}

Philex Mining

|{{Pse|PX}}

|Removed September 2015

Philippine National Bank

|{{Pse|PNB}}

|Component since September 2001, re-added May 2008

Philippine Stock Exchange

|{{Pse|PSE}}

|Added November 2009

Piltel

|PLTL

|Added September 2001, removed April 2006

|Bought by PLDT ({{Pse|TEL}})

Rizal Commercial Banking Corporation

|{{Pse|RCBC}}

|Added May 2008, removed November 2009

Robinsons Retail Holdings

|{{Pse|RRHI}}

|Removed February 2022

Semirara Mining and Power Corporation

|{{Pse|SCC}}

|Added September 2011, removed August 2020

SM Development Corporation

|{{Pse|SMDC}}

|Added September 2011, removed March 2013{{Cite web|title=New PSEi: Razon-led Bloomberry in, Sy-led SMDC out|url=https://www.rappler.com/business/new-pse-index-razon-led-bloomberry-in-sy-led-smdc-out|access-date=August 19, 2021|website=Rappler|date=February 28, 2013 |language=en}}

Southeast Asia Cement Holdings

|CMT

|Added September 2001

Unionbank

|{{Pse|UBP}}

|Added May 2008, re-added May 2009

Union Cement

|Added September 2001

|Bought by Phinma Corporation ({{Pse|PHN}})

Vista Land

|{{Pse|VLL}}

|Added May 2008, removed November 2009