%20(3).png){kind=small}
![TFD [LOGO] (10).png](https://static.wixstatic.com/media/bea252_c1775b2fb69c4411abe5f0d27e15b130~mv2.png/v1/crop/x_150,y_143,w_1221,h_1193/fill/w_179,h_176,al_c,q_85,usm_0.66_1.00_0.01,enc_avif,quality_auto/TFD%20%5BLOGO%5D%20(10).png)
PSE DOWN ON NEWS LACK
- By The Financial District
- Jun 7, 2021
- 2 min read
The Philippine Stock Exchange (PSE) index closed lower today on account of the lack of good news to propel it forward after a huge rally last week with the COVID-19 infections still high and with news of bank loan defaults bruited about by monetary authorities leading to a 32.42 point or 0.48 percent decline to 6,736.92 points.
Value turnover was at a low of P4.18 billion as investors stayed on the sidelines with second liners now being eyed as bargains leading to 102 gainers against 100 losers and 60 shares unchanged. Net foreign selling amounted to P96 million on foreign buying of P1.677billion and foreign selling of P1.77 billion.
The absence of interest in the market can be gleaned from the low amount of transactions for the most active with Ayala Land emerging as the most active with just P268 million in trades as it lost 10 centavos to P36.30 even with foreign buying of P20 million.
Second liner Ever Gotesco was the top gainer and was in the Top 20 active stocks as its share price rose by 47.96 percent or almost freezing point as it went up by P0.094 to P0.29 with transactions of P72.03 million.
Property developer Suntrust also posted a 12.82 percent gain to P1.76, up by 20 centavos.
Two of the sub-sectors were up the industrials which rose by 0.008 percent and the mining and oil index which gained 0.53 percent. Among the mining stocks that went up were Philex Mining, which was up by 30 centavos, and Benguet, which closed 38 centavos higher to P4.50.
The financials were down by 0.61 percent with BDO Unibank losing 60 centavos to P106.40, Bank of PI, which dropped by 70centavos to P85.15, and Security Bank, down P2.10 to P123.90. The other sub-sectors that lost were holding firms, down 0.51 percent, services, by 0.12 percent, and property, by 0.69 percent.
Market bellwether SM Investments declined by P10 to P990 while Monde rose by 6 centavos to P13.46, Jollibee by P2 to P196, and Aboitiz Power by 35 centavos to P23.15.Globe, Ayala Energy, and Dito were unchanged at P1,840, P7.78, and P9.90, respectively.
The market perked up a bit at the opening and later went down to as low as 6,758.09 points before recovering at the close.
