PSE Index Crumbles To New Low

The Philippine Stock Exchange (PSE) index plunged to a new low today, closing at 6,196.88 points, down 99.32 points or 1.58%.

The Philippine Stock Exchange (PSE) Index, January 27, 2025

This drop came amid continued net foreign selling and bearish market sentiment, which saw all sub-indices finish in the red.

The index initially stood at 6,259.86 points, down 36.34 points or 0.58%, but it sharply fell as market bellwether SM Investments dropped from a high of P854 to P820, losing P25 or 2.96%.

Net foreign selling totaled P322 million, with foreign buying amounting to P2.666 billion and foreign selling at P2.989 billion.

Top active stocks included ICTSI, which had P1.02 billion in trades, BDO Unibank at P456 million, and China Bank at P302 million, all of which saw losses of 2.65%, 1.07%, and 6.62%, respectively.

Total value turnover was P5.436 billion, with losers outnumbering gainers 118 to 68, while 48 shares remained unchanged.

The industrial sector posted the biggest loss at 2.07%, with Universal Robina down 2.09%, ACEN Corp. falling by 1.97%, Meralco down 2.26%, and Monde Nissin shedding 2.85%. Financials dropped by 1.18%, holding firms retreated by 1.98%, services fell 1.49%, mining and oil lost 1.62%, and property declined 1.29%.

Among the gainers were Ayala Land, SM Prime, Ayala Corp., Jollibee Foods, Alternergy, Aboitiz Power, PNB, Security Bank, Citicore RE, Shell Pilipinas, and Aboitiz Equity.

Also faltering were Alliance Global, DMC Holdings, Double Dragon, Megaworld, JG Summit, Converge, ABS-CBN, GMA-7, VREIT, Dito CME, MRC Allied, Robinsons Land, Macroasia, Cebu Air, Belle Corp., DigiPlus, Wilcon Depot, Nickel Asia, Apex Mining, and Atlas Mining.

Stocks such as Metrobank, GT Capital, Haus Talk, First Gen, Petron, SMC Food and Beverage, Keepers Holdings, Cemex Holdings, Cosco Capital, LT Group, Globe Telecom, PLDT, Robinsons Retail, Bloomberry, Puregold, Oceana Gold, and Philex Mining also saw gains.

Unchanged stocks included Bank of PI, D&L Industries, Union Bank, Ginebra, Semirara Mining, SPNEC, Citicore RE, Philweb, Ginebra, Abacore, San Miguel, and DDMP REIT.