PSE DOWN ON SELLING PRESSURE
The Philippine Stock Exchange (PSE) today went into negative territory, with selling pressure greeting the early morning trade and midway was poised for a huge loss of more than 200 points until a late rally cut the decline to 144.47 points to close at 6,439.37 points.
There was selling pressure on SM Investments, with value turnover hitting more than P1.29 billion as investors were unconvinced that the conglomerate would fare well with the new normal.
It was the most active stock as it lost P15 per share to close at P935, one of the 147 losers against 55 gainers and 41 shares unchanged with value turnover brisk at P8.96 billion.
Only three stocks survived the sell-down among the 20 most actively traded stock: Jollibee Foods , PLDT and Emperador.
Jollibee continued its daily gain adding another P4.39 to close at P145 on a value turnover of P422.67 million while PLDT went up by P31 to close at P1,225 on transactions of P191 million.
Emperador went up six centavos to P8.35 on total trade of P583.24 million on news of the lifting of the liquor ban. Ginebra San Miguel also priced the good news to close the day up by 2.80 to close at P36.80.
BDO Unibank, Metrobank, BPI and Security Bank were part of the losers