PSE Index Drops Another Level

The Philippine Stock Exchange (PSE) index today plunged to another level after a roller-coaster performance in trades, defined by another wave of foreign sell-offs.

The Philippine Stock Exchange (PSE) Index, January 16, 2025

The index closed at 6,265.52 points, losing 64.94 points or 1.03 percent.

The market initially started 30 points higher and even extended its gains to a milestone 6,419.26 points. However, it faced a selling frenzy that resulted in all sub-indices, except mining and oil, posting losses.

Market bellwether SM Investments mirrored this performance, opening ₱7.50 higher at ₱842, climbing to ₱852.50, but closing at its lowest for the day at ₱821.50, marking a ₱13.50 decline.

Financials lost 1.69 percent, industrials declined by 0.36 percent, holding firms dropped by 0.65 percent, services decreased by 0.08 percent, and property retreated by 1.10 percent. Mining and oil, however, gained 1.28 percent.

Value turnover stood at ₱6.18 billion, with foreign trades amounting to ₱5.8 billion. Net foreign selling reached ₱1.095 billion, with foreign buying at ₱2.362 billion and foreign selling at ₱3.457 billion.

There were 104 gainers, 96 losers, and 40 unchanged shares.

Among the gainers were Citicore REIT, PLDT, Synergy Grid, Alternergy, Bright Kindle, Shakey's Pizza, PhilWeb, Security Bank, Union Bank, PNB, ACEN Corp, First Gen, Manila Water, SPNEC, Semirara Mining, Petron, D&L Industries, JG Summit, AgriNurture, AbaCore, LT Group, CREIT, Belle Corp, Bloomberry, Wilcon Depot, Megaworld, Robinsons Land, Converge, Philodrill, Nickel Asia, Cebu Air, and Philex Mining.

BDO Unibank, ICTSI, SM Prime, Ayala Land, China Bank, PSE, Metrobank, Meralco, Shell Pilipinas, GT Capital, Apex Mining, DigiPlus, Megawide, Puregold, Bank of PI, Ayala Corp, Alliance Global, ABS-CBN, DITO CME, GMA-7, PAL, OceanaGold, and Jollibee Foods ended the day down.

Meanwhile, unchanged stocks included Aboitiz Power, Figaro Coffee, Vitarich, Globe Telecom, San Miguel, AREIT, Atlas Mining, and Haus Talk.