PSE Index Down Anew

The Philippine Stock Exchange (PSE) index slid further Thursday after profit-taking prevented it from climbing above the 7,500-point level, closing at 7,400.33 points—down by 36.67 points or 0.49 percent—following a sell-off after moving to within 16 points of the coveted close.

The Philippine Stock Exchange (PSE) Index, October 17, 2024

Only the financials sector survived the profit-taking, with market bellwether SM Investments losing momentum and closing at its lowest price point of P962, down by P9. It hit a high of P984 but, like the rest of the blue chips, faltered.

Financials rose by 0.38 percent, led by BDO Unibank, which increased by 50 centavos to P162.50 on a volume of P635 million, making it the second most active stock.

Holding firms fell by 1.17 percent, the industrial sector lost 0.54 percent, services declined by 0.25 percent, and mining and oil and property respectively dropped by 1.05 percent and 0.52 percent.

Value turnover amounted to P5.9 billion, with foreign trades accounting for P5.5 billion. There were 92 gainers, 102 losers, and 64 shares unchanged. Foreign buying amounted to P2.736 billion, while foreign selling reached P2.784 billion, resulting in net foreign selling of P47 million.

Among the gainers were ICTSI, Semirara Mining, SM Prime, MacroAsia, PNB, ACEN Corp., Security Bank, Alternergy, Greenergy, Filinvest Land, Wilcon Depot, Converge, Philodrill, Citicore REIT, AgriNurture, Century Food, Figaro Coffee, Fruitas Holdings, Jollibee Foods, Cemex Holdings, Abacore, Globe Telecom, Boulevard Holdings, Ferronickel, OceanaGold, Philex Mining, Apex Mining, DigiPlus, and Greenergy.

Among the losers were Universal Robina, Ayala Land, Metrobank, China Bank, PLDT, Nickel Asia, Meralco, Manila Water, Synergy Grid, Monde Nissin, GT Capital, AREIT, MREIT, ABS-CBN, GMA-7, Alliance Global, D&L Industries, DoubleDragon, Vista Land, Bloomberry, and Robinsons Retail.

The unchanged stocks included Citystate Savings, Basic Energy, Emperador, Keeper Holdings, Shell Pilipinas, SPNEC, Megaworld, Vitarich, Megawide, Oriental Petroleum, and Atlas Mining.