PSE Down Anew On Selling

Investors again pocketed their gains as The Philippine Stock Exchange index lost 76.05 points or 1.02 percent to 7,380.30 points after it surged on opening giving rise to a hefty value turnover that is 50 percent higher than average and blue chips tumbling.

Photo Insert: The Philippine Stock Exchange (PSE) Index, February 7, 2022

Value turnover reached p9. 208 billion with 84 gainers, 105 losers, and 51 shares unchanged with the index hitting a high of 7,474.83 points from where the profit-taking started resulting in a low that is 8.70 points lower than the close. The financials and the mining and oil sub-indices survived the selling mode gaining 0.90 percent and 0.83 percent, respectively.

Metrobank emerged as the most active stock with trades of p745 million as it closed at p59.30, down by 15 centavos but its trading showed the extent of the initial surge and subsequent profit taking as it hit a high of p59.30 before crumbling to its lowest and closing price.

Market bellwether SM Investments reached a high of p976 50 before declining to as low as p946 and closing at p950, down by p26.50.

The property sub-index lost 1.78 percent, holdings, 1.87 percent, industrials by 1.21 percent, and services by 0.20 percent. Ayala Land and SM Prime lost p1. 05 to p36.05 and 55 centavos to p35.60 respectively.

Nickel Asia bannered the mining and oil sub-index with a 7 centavo to p6.41. The other gainers were Converge, which advanced by 55 centavos to p28.55, Solar Philippines, up by 14 centavos to p2.20, PLDT, up by p20 to p1,900, ICTSI, up p2.40 to 204.40, Figaro, up 5 centavos to p0.90, and Bank of PI, up p2 to p102.

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