PSE Index Dips Slightly Amid Profit-Taking

The Philippine Stock Exchange (PSE) index closed slightly lower today, ending at 6,433.24 points, down by 1.49 points or 0.02 percent.

The Philippine Stock Exchange (PSE) Index, August 6, 2024

Despite an early rally that pushed the index to a high of 6,512.47 points, profit-taking led to a mixed close across sub-indices.

The financials sector declined by 0.16 percent, industrials dropped by 0.54 percent, and mining and oil fell by 1.76 percent. Meanwhile, holding firms inched up by 0.10 percent, services gained 0.38 percent, and property increased by 0.60 percent.

Total value turnover reached ₱5.11 billion, with foreign trades accounting for ₱4.5 billion. Foreign buying amounted to ₱1.988 billion, while foreign selling hit ₱2.624 billion, resulting in net foreign selling of ₱635 million.

ICTSI emerged as the most active stock of the day with ₱711 million in trades, closing unchanged at ₱348. Market bellwether SM Investments dipped by ₱4 to close at ₱880 after peaking at ₱900 earlier in the session.

The market saw 84 gainers, 97 losers, and 56 unchanged issues. Among the gainers were BDO Unibank, Phil. Seven, PNB, PSE, Agrinurture, CEMEX Holdings, GT Capital, Robinsons Land, DigiPlus, Acen Corp., Aboitiz Power, Citicore RE, First Gen, and Meralco.

Alliance Global, Jollibee Foods, Monde Nissin, Abacore, LT Group, Globe Telecom, PLDT, Converge, Dito CME, Philex Mining, Apex Mining, Philodrill, Haus Talk, DMC Holdings, and Cebu Air also ended the day in the green.

On the other hand, the day's losers included Universal Robina, Metrobank, Bank of the Philippine Islands (BPI), Wilcon Depot, Union Bank, Alternergy, JG Summit, Cosco Capital, Semirara Mining, Manila Water, Petron, Century Properties, San Miguel, Bloomberry, Atlas Mining, Nickel Asia, and OceanaGold.

Unchanged stocks included Security Bank, SPNEC, Figaro Coffee, Megaworld, PAL, Belle Corp., Puregold, and SSI Group.