PSE Index Trips On Low Volume

The Philippine Stock Exchange (PSE) index declined slightly Monday on thin trading volume, with local investors accounting for just eight percent of the total value turnover.

The Philippine Stock Exchange (PSE) Index, October 21, 2024

The index closed at 7,406.63 points, down by 9.10 points or 0.12 percent, as the sub-indices ended mixed.

The financials sub-index rose by 0.07 percent, industrials edged up by 0.03 percent, and mining and oil gained 0.45 percent due to a spike in gold prices. In contrast, the holding firms sub-index fell by 0.08 percent, services declined by 0.17 percent, and property decreased by 0.24 percent.

Overall trading volume was thin, with total trades accounting for just half of the average.

On an optimistic note, foreign buying reached P1.58 billion, outpacing foreign selling of P1.42 billion, resulting in a net foreign buying of P160 million.

Foreign trades accounted for P3.008 billion, while local investors contributed P290 million. Aside from the rise in gold prices approaching $2,700 per ounce, there was no significant news to drive a market rally.

Market bellwether SM Investments closed unchanged at P962 as the thin trading volume pushed the index to drop to a milestone level of 7,386.85 points before recovering towards the close.

There were 104 gainers, 113 losers, and 53 unchanged shares.

Among the gainers were BDO Unibank, OceanaGold, Apex Mining, Atlas Mining, Philex Mining, Metrobank, PNB, Union Bank, Shell Pilipinas, Century Pacific Food, Monde Nissin, Universal Robina, and GT Capital.

San Miguel Corporation also gained along with DoubleDragon, ABS-CBN, GMA Network, Philippine Seven Corporation, JG Summit, Dito CME, DigiPlus, AREIT, Megaworld, Abacore Capital, Alternergy, Aboitiz Power, Basic Energy, Citicore Renewable Energy, First Gen, Synergy Grid, AgriNurture, SMC Food and Beverage, Alliance Global, and Philweb.

The losers included Bank of the Philippine Islands (BPI), ICTSI, Ayala Corporation, Ayala Land, SM Prime, Manila Water, Semirara Mining, EastWest Bank, Security Bank, Roxas and Company, Megawide, Cosco Capital, LT Group, Century Properties, PSE, ACEN Corporation, Meralco, Petron, Emperador, Ginebra, Jollibee Foods, Vitarich, Aboitiz Equity Ventures, PLDT, Cebu Air, and Philippine Airlines (PAL).

Meanwhile, unchanged stocks included Petron’s perpetual preferred shares, SPNEC, Citicore RT, and Wilcon Depot.