PSE Index Down On Foreign Selling

The Philippine Stock Exchange (PSE) today experienced a decline primarily attributed to foreign selling, closing at 6,853.10 points, marking a decrease of 28.87 points or 0.42 percent.

The Philippine Stock Exchange (PSE) Index, March 25, 2024

The market witnessed a net foreign selling amounting to P246 million, impacting the sub-indices except for holding firms, which saw a marginal gain of 0.10 percent. Despite the losses, the declines remained relatively modest, staying under one percent.

Financials suffered the most significant setback, dropping by 0.87 percent, followed by services down by 0.34 percent, industrial by 0.71 percent, property by 0.30 percent, and mining and oil by 0.68 percent.

Market analysts attributed the subdued market activity to the observance of Holy Week. The total value turnover reached P5.4 billion, with 82 gainers, 113 losers, and 48 shares remaining unchanged.

Foreign buying amounted to P2.8 billion, while foreign selling stood at P2.5 billion.

Ayala Land emerged as the most active stock, with P366 million in trades. Despite the property sector's downturn, Ayala Land managed to advance by 30 centavos to P31.90. Following closely was DMC Holdings, with P348 million in trades, rising by 60 centavos to P12.30.

Among the gainers were PAL, Cebu Air, Semirara Mining, Universal Robina, House Talk, Megawide, DigiPlus, GT Capital, Megaworld, Globe Telecom, Atlas Mining, and Alliance Global.

On the flip side, the losers included Ayala Corp, Bloomberry, SM Prime, Robinsons Land, PLDT, BDO Unibank, Bank of the Philippine Islands, Metrobank, Nickel Asia, AgriNurture, Philodrill, Apex Mining, and Axelum.

Meanwhile, stocks such as SM Investments, Converge, Aboitiz Equity, Manila Water, PNB, and ACEN Corp remained unchanged.

WEEKLY FEATURE : Jose Mari Chan And The Christmas Anthem