PSE Index Hits New Low Amid Broad-Based Losses

The Philippine Stock Exchange (PSE) index fell to its lowest level, closing at 6,545.38 points.

The Philippine Stock Exchange (PSE) Index, January 7, 2025

The benchmark index dropped by 79.79 points, or 1.2%, reflecting continued bearish sentiment in the market.

Among sectoral indices, only the Mining and Oil sector managed to post gains, rising by 0.30%. Financials slipped by 0.80%, Holding Firms lost 0.50%, Services retreated by 1.88%, Industrials declined by 0.62%, and Property dropped by 1.67%.

Net foreign selling reached ₱894 million, with foreign buying amounting to ₱1.785 billion and foreign selling at ₱2.680 billion. Total value turnover stood at ₱4.51 billion, with 96 stocks advancing, 124 declining, and 39 remaining unchanged.

Market heavyweight SM Investments dropped ₱6 to close at ₱893, while Ayala Land, the day’s most actively traded stock with ₱565 million in turnover, declined by ₱0.90 to ₱26.10.

Analysts noted that the market remains under significant bearish pressure and may need to undergo further corrections before stabilizing.

Notable decliners included ICTSI, BDO Unibank, DITO CME, Bank of the Philippine Islands (BPI), SM Prime, Solar Philippines Nueva Ecija Corporation (SPNEC), Figaro Coffee, GT Capital, Globe Telecom, PLDT, Monde Nissin, Universal Robina, AgriNurture, Keeper Holdings, and Megawide.

Meanwhile, gainers included DigiPlus, AREIT, Jollibee Foods, San Miguel Corporation, DoubleDragon, ABS-CBN, GMA Network, JG Summit, and Cebu Air.