PSE Index Retreats Anew

The Philippine Stock Exchange (PSE) index retreated again today in tepid volume, with foreigners remaining net sellers.

The Philippine Stock Exchange (PSE) Index, January 10, 2025

The index closed at 6,496.32, down by 15.25 points or 0.23 percent.

Only the financial sector posted a gain, up by 0.55 percent, while all other sub-indices declined. Net foreign selling continued to weigh on the market, with value turnover nearly half the average trades.

Holding firms lost 0.67 percent, services dipped 0.07 percent, industrials declined 0.24 percent, property was down 0.06 percent, and mining and oil retreated by 0.40 percent.

The market showed some initial optimism at the opening, hitting a high of 6,520.29 points before retreating to a low of 6,473.13 points. Value turnover amounted to ₱3.77 billion, with 98 gainers, 96 losers, and 55 unchanged.

Net foreign selling totaled ₱45 million, with foreign buying at ₱1.979 billion and foreign selling at ₱2.025 billion.

Among the top losers was ICTSI, which dropped by 40 centavos to ₱399 on trades amounting to ₱381 million. Other notable losers included market bellwether SM Investments, DITO CME, SM Prime, GT Capital, Metrobank, PNB, Security Bank, ACEN Corp, Alternergy, and Aboitiz Power.

Also in the red were Jollibee Foods, Ginebra, Monde Nissin, Universal Robina, Cemex Holdings, Steniel, Alliance Global, DMCI Holdings, JG Summit, Prime Media, Megaworld, PLDT, Converge, Cebu Air, Nickel Asia, Haus Talk, and Bloomberry.

On the other hand, gainers included AREIT, BDO Unibank, Globe Telecom, Bank of the Philippine Islands, Union Bank, and PSE.

Bright Kindle, Basic Energy, Citicore REIT, First Gen, Synergy Grid, Ayala Corp, Megawide, PAL, DigiPlus, OceanaGold, Ferronickel, Atlas Mining, and Philex Mining also ended the day up.

Unchanged stocks included Ayala Land, Manila Water, San Miguel, Citicore RT, Phil. Seven, Belle Corp, SPNEC, Vitarich, AbaCore, AgriNurture, and Keeper Holdings.