PSE Index Down In Muted Volume

The Philippine Stock Exchange (PSE) index started the month declining to a milestone level in muted volume as locals accounted for just 12 percent in another show of sluggish sentiment.

The Philippine Stock Exchange (PSE) Index, July 1, 2024

With only the financials posting a gain to close at 6,398.77 points, down by 13.14 points or 0.20 percent, there were 83 gainers, 101 losers, and 53 shares unchanged.

Rising 35 points to its highest price point from its opening of 6,401.96 points, the index succumbed to profit-taking to hit a low of 6,382.25 points before nosing up at the close. Financials went up by 0.12 percent while the other five sub-indices went down.

Holding firms lost 0.56 percent, services by 0.47 percent, industrial by 0.06 percent, property by 0.17 percent, and mining and oil by 0.24 percent.

Value turnover was almost half of the average at P3.3 billion, with local investors accounting for just P400 million, while foreign transactions hit P2.9 billion. There was net foreign buying of P88 million, with foreign buying at P1.511 billion and foreign selling at P1.421 billion.

SM Prime was the most active with P421 million as it went down by 30 centavos to P28, while market bellwether SM Investments gained P1.50 to P832 with trades of P258 million, the second most active.

Among the gainers were PLDT, JG Summit, Dito CME, Megaworld, Cebu Landmasters, Ayala Land, BDO Unibank, Monde Nissin, PNB, Union Bank, Col Financial, First Gen, Meralco, Manila Water, Synergy Grid, San Miguel, Century Food, D&L Industries, and AgriNurture.

Those unchanged were EastWest, Security Bank, Citicore REIT, SPNEC, Bank of the Philippine Islands, Converge, Philex Mining, and Nickel Asia.

Among the losers were Globe Telecom, Apex Mining, PhilWeb, DigiPlus, ABS-CBN, GMA-7, Metrobank, ACEN Corp., Alternergy, Aboitiz Power, Bloomberry, Belle Corp., Cosco Capital, DMCI Holdings, Keepers Holdings, Del Monte, Universal Robina, CEMEX Holdings, Megawide, STI Education, 8990 Holdings, Abacore, Ayala Corp., GT Capital, Phil. Seven, Roxas and Co., Petron, Semirara Mining, LT Group, and Aboitiz Equity.