PSE Down Minimally

The Philippine Stock Exchange (PSE) index today declined marginally on the continuation of net foreign selling for the fourth trading day. Although it rose for a bit at one point, the selling hit in the last hour of trading lead to a slight loss of 2.37 points or 0.03 percent to 6,968.14 points.

Photo Insert: The Philippine Stock Exchange (PSE) Index, September 13, 2021

Only the services sector survived the selling pressure adding a hefty 1.56 percent with all sub-indices posting losses headlined by the property sector’s loss of 0.72 percent. The other losers were mining and oil index, down by 0.51 percent, property by 0,72 percent, financials by 0.36 percent, industrials, by 0.15 percent, and holding firms, 0.37 percent.

Net foreign selling persisted for the fourth consecutive trading day with P163 million sold down as value turnover hit a low P5.002 billion with 76 gainers, 119 losers, and 49 shares unchanged.

Topping the most active stock was Globe which had trades of 546 million as it hit a new high of P3,090, adding P228 to its share price.

The other big gainers, which were the next four top traded stocks were Converge, up by P1.05 to P33.35, AC Energy, up 10 centavos to P10.26, PLDT, up by P23.10 to P1,469, and Monde, up 10 centavos to P17.58.

Market bellwether SM Investments declined by P6 to P1,009 while San Miguel lost P1,90 to P115.50.

The index actually flirted for a while at a higher plane of 6,973 but it went to as low as P6,937.25 before bargain hunters came in to nudge the index up, nevertheless still ending with a marginal decline.

Property giants Ayala Land and SM Prime respectively went down by 75 centavos to P33.75 and 15 centavos to P33.60.

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