PSE Index Down Again, But Only Slightly

The Philippine Stock Exchange (PSE) index declined slightly Wednesday due to profit-taking, with market bellwether SM Investments closing at its lowest price point.

The Philippine Stock Exchange (PSE) Index, October 16, 2024

This led to a drop in three other sub-indices, although foreign investors were net buyers for the second day. The index closed at 7,437.00 points, down by 19.31 points or 0.26 percent.

There were 86 gainers, 101 losers, and 75 shares unchanged. Index-heavy holding firms declined by 0.56 percent, services lost 0.05 percent, mining and oil dropped by 1.08 percent, and property declined by 0.83 percent.

Financials, with top-traded BDO Unibank up by one peso to P162, posted a 0.04 percent gain, while services advanced by 0.05 percent.

The market opened at 7,471.88 points and briefly rose to 7,483.78 points before a sell-down occurred, reflecting the touch-and-go situation for the PSE index as it aims to move above the 7,500-point resistance level.

Puregold, with P484 million in trades, was the second-most traded stock as it rose by P1.45 to P34.45, while Robinsons Retail was ranked third in terms of value turnover, gaining 74 centavos to P16.74.

Among the gainers were Robinsons Land, Manila Water, DMC Holdings, PLDT, MacroAsia, CEMEX Holdings, Citicore REIT, DN&L Industries, Century Pacific Food, Axelum Resources, and Monde Nissin.

Abacore Capital, OceanaGold, Atlas Mining, Philex Mining, Meralco, SPNEC, LT Group, Apex Mining, Cemex Holdings, Aboitiz Equity, Puregold, Wilcon Depot, SMC Food and Beverage, GT Capital, DoubleDragon, Megaworld, Converge ICT, and Cebu Air also ended trading in the green.

Among the losers were ICTSI, Security Bank, China Bank, Union Bank, ACEN Corp., Ginebra San Miguel, Alternergy, Petron, Bloomberry, Roxas and Company, Universal Robina, Vitarich, San Miguel Corp., SM Prime Holdings, Boulevard Holdings, and Ginebra San Miguel.

Those unchanged included Bank of the Philippine Islands (BPI), Metrobank, Semirara Mining, Citicore Energy REIT, Philippine Airlines (PAL), DigiPlus, Jollibee Foods, Ayala Corp., Cosco Capital, Dito Telecommunity, Belle Corp., and Robinsons Retail.