PSE Index Fizzles At Home Stretch To Close Day In The Red

The Philippine Stock Exchange (PSE) index experienced a surge at the opening but fizzled at the close to end lower due to profit-taking, closing at 6,891.49 points, down by 21.72 points or 0.31 percent.

The Philippine Stock Exchange (PSE) Index, February 26, 2024

Among the sub-indices, Financials declined by 0.67 percent, property by 1.99 percent, and services by 0.07 percent. However, holding firms, industrials, and mining and oil sectors saw increases of 0.42 percent, 0.59 percent, and 0.54 percent, respectively.

The market saw 89 gainers, 78 losers, and 65 shares remained unchanged. The index opened at 6,918 and reached a high of 6,941.85 points before profit-taking led to a decline.

Market bellwether SM Investments rose by P8.50 to P916.50, with trades amounting to P174 million. Meanwhile, BDO Unibank, one of the top-traded stocks, lost P4.10 to P149.50.

Net foreign buying was at P39 million, the lowest in a month, with foreign buys totaling P2.24 billion and sells amounting to p2.206 billion. Value turnover stood below average at P4.2 billion.

Gainers included Metrobank, PNB, Aboitiz Power, Cebu Air, Manila Water, Century Food, Monde Nissin, D&L Industries, Jollibee Foods, Aboitiz Equity, LT Group, Robinsons Land, Bank of PI, PLDT, Nickel Asia, and Philex Mining.

Decliners were Security Bank, Union Bank, ACEN Corp, Basic Energy, San Miguel, Universal Robina, SPNEC, GT Capital, Ayala Land, SM Prime, Ayala Corp, Semirara Mining, Petron, Globe Telecom, and DITO CME.

Shares that remained unchanged were First Gen, Synergy Grid, Axelum, Synergy Grid, SM Food and Beverage, Philippine Airlines, and Bloomberry.

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