PSE Index In Slight Slide

The Philippine Stock Exchange (PSE) index declined slightly today, losing just 1.35 points or 0.02 percent to settle at 6,615.16.

The Philippine Stock Exchange (PSE) Index, December 16, 2024

The index recovered toward the close after briefly dipping below a milestone level. Selling pressure from foreign investors continued to weigh on the market, overshadowing the usual Christmas rally optimism.

Net foreign selling amounted to P495 million, with foreign buying at P2.176 billion and foreign selling at P2.672 billion.

Decliners outnumbered advancers, with 100 stocks losing, 87 gaining, and 65 remaining unchanged. Value turnover was P4.63 billion, about a third lower than the average.

Market bellwether SM Investments gained P12 to close at P900, helping lift the holding firms sector by 0.21 percent. Financials also rose by 0.86 percent, but the gains were insufficient to offset declines in other sectors.

Industrials fell by 0.89 percent, services by 0.25 percent, mining and oil by 1.01 percent, and property by 0.44 percent.

Among the gainers were ICTSI, Bank of the Philippine Islands (BPI), DigiPlus, Dito CME, Alternergy, AbaCore, Mabuhay Vinyl, Metrobank, ACEN Corp, Aboitiz Power, First Gen, Manila Water, Petron, Ginebra, CWMWX Holdings, MREIT, ABS-CBN, GMA-7, Wilcon Depot, and PhilWeb.

Meanwhile, notable losers included Security Bank, Union Bank, China Bank, PSE, Meralco, Semirara Mining, AgriNurture, Ayala Land, Jollibee Foods, GT Capital, JG Summit, Globe Telecom, PLDT, Bloomberry, Belle Corp, Philex Mining, and Puregold.

Unchanged stocks included SPNEC, Basic Energy, D&L Industries, Vitarich, Aboitiz Equity, San Miguel, OceanaGold, Nickel Asia, Haus Talk, Oriental Petroleum A, and Philodrill.