PSE Index Back Down A Bit In Volatile Trade

The Philippine Stock Exchange (PSE) index witnessed a marginal decline, closing at 6,520.75 points, marking a loss of 0.52 points or 0.008 percent.

The Philippine Stock Exchange (PSE) Index, December 20, 2023

The index experienced volatility in trade, with above-average value turnover. Despite the dip, foreign investors remained net buyers.

The decline in the financials sector, down 0.69 percent, and a 0.14 percent loss in the property sector contributed to the overall decrease in the index. Local investors' entry brought relief, supporting expectations of a Christmas rally.

The US market's continued rise, coupled with a pause in rate hikes mirrored by the Bangko Sentral ng Pilipinas, contributed to the positive sentiment.

The Top 10 traded stocks recorded high price points before the close, with some investors pocketing their gains.

Notably, Ayala Land ended the day at its lowest, down by 35 centavos to p34, with a high of p34.60. ICTSI also experienced a decline of p2.80 to p243.20, with a high and low of p246.20 and p239.60, respectively.

ACEN Corp sustained its decline, reaching p4.03, a loss of 17 centavos or a significant 4.05 percent decline. Ayala Corp, which declared a cash dividend of p3.806 with a record date on the 26th, rose by p7 to p7.22, while SPNEC lost 5 centavos to p1.11.

The total value turnover reached p6.32 billion, with 96 gainers, 89 losers, and 42 shares remaining unchanged.

Foreign buying amounted to p2.788 billion, and foreign selling reached p2.621 billion, resulting in a net foreign buying of p166 million. Holding firms rose by 0.65 percent, mining and oil by 0.79 percent, and services by 0.31 percent.

The only sub-index in the red was the industrials, down by 0.43 percent.

Among the gainers were market bellwether SM Investments, GT Capital, SM Prime, PLDT, Robinsons Land, Converge, Nickel Asia, and JG Summit. Meanwhile, the losers included BDO Unibank, Globe Telecom, Jollibee Foods, Aboitiz Power, and Alliance Global.

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