PSE DROPS BELOW 6K

The Philippine Stock Exchange (PSE) dropped to 5,943.58 points, down 61.82 points or 1.03 per cent as the negative sentiment reared its head with the lack of positive news and uncharted COVID-19 roadmap response.

Net foreign selling amounted to a high of P1.04 billion with value turnover hitting P10.27 billion but only because of a big transaction of Emperador shares valued at P5.19 billion.

The sectoral indices were mixed with the financials, property and holding firms showing losses and the mining and oil, services and industrials posting gains with losers outgunning gainers 112 to 72 with 59 shares unchanged.

Emperador, the listed liquor firm of tycoon Andrew Tan, was transacted by Aurora Securities at P9.90 per share involving 525 million shares. A cross sale means that the buyer and seller traded at one stockbrokerage firm.

As a result Emperador , which lost 2 centavos closing at P10.08 was the most active stock with transactions of P5.2 billion with the next five stocks posting losses too.

Total foreign selling hit P3.223 billion while foreign buying stood at P2.183 billion.

BDO Unibank had foreign selldown of P245 million, Ayala Land, P159 million, Metrobank, P84 million, JG Summit P76 million, AREIT, P50 million, PureGold P44 million, ICTSI, P69 million GTCap, P121 million.

BDO lost P2 ALI, 75 centavos, ICTSI, 50 centavos, Metrobank 65 centavos, GTCap P7.00. 

Another losing stock was Macay Holdings of tycoon Alfredo Yao, which declined by 84 centavos or 9.56 percent. The stock was the top gainer last Friday by 20 percent on news that it is buying a food concessionaire for P2 billion cash with its 2019 financials unsubmitted yet.

Market darling MerryMart lost 4 centavos to P3.21 while market bellwether SM Investments went down by P17 to P883 to show the prevailing negative sentiment in the stock market compounded by the ghost month which ends next September 16.