PSE Index Down Anew On Foreign Selling

The Philippine Stock Exchange (PSE) index continued its decline today, driven by foreign selling, closing at 6,223.73 points, down by 41.41 points or 0.66 percent.

Photo Insert: The Philippine Stock Exchange (PSE) Index, November 30, 2023

Holding firms were hit the hardest, declining by 1.59 percent, with market bellwether SM Investments experiencing a hefty 3.42 percent drop to close at P819, down by P29. Net foreign selling reached the highest in over six months, totaling P320.2 million.

Favored shares of foreigners had net selling of P81 million out of total trades amounting to P410 million. Aboitiz Equity also declined by 2.5 percent, closing at P46.80, down by 2.5 percent.

However, Ayala Corp rose by P2 to P664, and JG Summit increased by 80 centavos to P38.50.

Financials saw a minimal increase of 0.01 percent, while Property was the other gainer, rising by 1.08 percent, with Ayala Land offsetting SM Prime. ALI increased by 3.48 percent, closing at P31.20, up by P1.05, while SM Prime declined by 20 centavos to P32.30. ALI ranked as the third most active stock with trades totaling P630 million.

BDO Unibank, the most active stock with trades of P782 million, gained 10 centavos to close at P133.50, while Metrobank declined by 90 centavos to P49.95, and Bank of PI rose by 60 centavos to P103.30. Security Bank increased by P1.45 to P70.50, while PNB declined by 2 centavos to P18.44.

Services declined by 0.63 percent, industrials by 0.86 percent, and mining and oil by 0.76 percent.

Value turnover amounted to P7.8 billion, with 79 gainers, 89 losers, and 49 unchanged. Total foreign buying amounted to P5.38 billion, while foreign selling reached P5.7 billion.

ICTSI was the second most traded stock with P659 million, closing P7 lower at P215.80, while Jollibee Foods decreased by P7.20 to P226.60.

Universal Robina declined by P2.50 to P113, Semirara Mining by 5 centavos to P28.95, Globe Telecom by P5 to P1,710, Bloomberry by 5 centavos to P9.65, and Nickel Asia and Philex Mining were respectively down by 5 centavos to P5.095 and 7 centavos to P3.06. Aboitiz Power increased by 40 centavos to P37.50, and ACEN Corp rose by 14 centavos to P4.80.

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