PSE Index Continues To Plummet

The Philippine Stock Exchange (PSE) index continued its decline Tuesday, closing at 6,299.67 points—a drop of 43.43 points or 0.68%.

The Philippine Stock Exchange (PSE) Index, January 14, 2025

The index's nosedive was partially offset by bargain hunting in the mining and oil and property sectors, which rose by 1.04% and 0.11%, respectively. Market bellwether SM Investments also benefited from bargain hunting, gaining ₱4 to close at ₱838, though it had reached a high of ₱850 during the session.

Other indices showed declines: Financials fell by 0.85%, Industrials dropped 1.56%, Holding Firms lost 0.30%, and Services retreated 0.63%.

The overall plunge was largely attributed to increased net foreign selling, which amounted to ₱886 million. Foreign buying reached ₱2.145 billion, while foreign selling totaled ₱3.032 billion.

Value turnover was ₱5.74 billion, with foreign trades accounting for ₱5.17 billion. Market activity saw 68 gainers, 114 losers, and 60 unchanged issues. Universal Robina was the most actively traded stock, with transactions totaling ₱576 million.

However, it plunged by 6.93% to ₱69.80, a decline of ₱5.20.

Among the gainers were DigiPlus, Puregold, SSI Group, Oriental Petroleum, Philodrill, Enex Energy, Ayala Land, Shell Pilipinas, D&L Industries, PAL, JG Summit, Synergy Grid, Vitarich, Monde Nissin, Megaworld, Globe Telecom, Atlas Mining, Philex Mining, Cemex Holdings, PSE, and CREIT.

On the losing side were Jollibee Foods, GT Capital, Metrobank, Ginebra, BDO Unibank, Bank of the Philippine Islands, Ayala Corporation, Security Bank, PNB, Megawide, LT Group, Cebu Air, PhilWeb, Wilcon Depot, MRC Allied, ACEN Corporation, Union Bank, First Gen, Century Pacific Food, GMA-7, PLDT, Converge, Belle Corporation, Bloomberry, Cosco Capital, Alliance Global, and Haus Talk.

Stocks that remained unchanged included SM Prime, Alternergy, SPNEC, AgriNurture, Figaro Coffee, MREIT, VREIT, OceanaGold, PXP Energy, Filinvest Land, Nickel Asia, Aboitiz Power, Emperador, AbaCore, and Petron Corporation.