PSE Index Dives To A Milestone Low

The Philippine Stock Exchange (PSE) index dropped to a milestone low Friday, closing at 6,061.33 points, down by 51.86 points or 0.85 percent, as pessimism once again crept into the market.

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

Except for the mining and oil index, which posted a 1.49 percent gain, all other sectoral indices declined as investors, particularly foreign investors, sold down their shares. Financials dropped by 0.15 percent, industrials by 0.38 percent, holding firms by 0.64 percent, services by 1.14 percent, and property by 1.89 percent.

Most blue-chip stocks declined, with port operator ICTSI falling 2.87 percent to ₱344.80, down by ₱10.20.

JG Summit plunged 3.4 percent to ₱15.32, losing 54 centavos, while market bellwether SM Investments declined by ₱5 to close at ₱820. Property giants Ayala Land and SM Prime also dropped, down by 90 centavos to ₱23.25 and 45 centavos to ₱23, respectively.

The market opened lower than Thursday's level and continued its downward trend throughout the day.

Net foreign selling reached ₱578.6 million, with foreign buying at ₱2.341 billion and foreign selling at ₱2.920 billion. Total value turnover stood at ₱5.24 billion, with 82 gainers, 81 losers, and 69 unchanged stocks.

Analysts attributed the market decline to the Bangko Sentral's decision to pause interest rate adjustments, as many had anticipated a 25-basis point rate cut.

Among the gainers were Universal Robina, Bank of the Philippine Islands (BPI), China Bank, Philex Mining, National Reinsurance, AgriNurture, Megawide, Italpinas, EastWest Bank, PSE, Meralco, Semirara Mining, Synergy Grid, Vitarich, Cosco Capital, DMCI Holdings, Ayala Corporation, Figaro Coffee, Cebu Landmasters, Century Properties, DoubleDragon, Filinvest REIT, Megaworld, GMA-7, PLDT, Converge, Cebu Air, Chelsea Logistics, Puregold, Nickel Asia, and Philex Mining.

Declining stocks included BDO Unibank, Jollibee Foods, Aboitiz Equity, Union Bank, Security Bank, ACEN Corporation, First Gen, Ginebra, Emperador, SPNEC, Alliance Global, GT Capital, Filinvest Land, DITO CME, ABS-CBN, Apex Mining, Belle Corporation, Bloomberry, DigiPlus, Monde Nissin, Roxas & Co., MacroAsia, Boulevard Holdings, MRC Allied, and Robinsons Land.

Stocks that remained unchanged included Alternergy, Citicore REIT, Citicore Energy REIT, Aboitiz Power, Petron, Shell Pilipinas, Globe Telecom, PhilSeven, OceanaGold, Axelum, D&L Industries, Keepers Holdings, Atlas Mining, Philodrill, AbaCore, RL Commercial REIT, and Ferronickel.