PSE Index Closes On Losing End Of Market Volatility

The Philippine Stock Exchange (PSE) index today declined in a volatile run that saw it within earshot of the coveted 7,000-point level, only to decline and close at its lowest of 6,905.46 points, down by 46.21 points or 0.66 percent.

The Philippine Stock Exchange (PSE) Index, March 5, 2024

Market bellwether SM Investments, the most active with ₱661 million, and gaming firm Bloomberry were the only gainers among the top 10 traded stocks, which saw mixed performances from shares belonging to the same business models like Cebu Air posting a loss and PAL Holdings closing up.

Opening at 6,908.08 points, the index rose to 6,981.84 points and from there tottered to its close at its lowest price point.

Only the holding firms and mining and oil rose respectively, closing 0.97 percent up and 0.004 percent.

Financials declined by 1.56 percent, industrial by 1.48 percent, services by 0.89 percent, and property by 1.09 percent. Value turnover amounted to ₱5.37 billion with 77 gainers, 113 losers, and 50 shares unchanged.

Foreign investors continued to be net buyers, amounting to ₱308 million on foreign buys of ₱2.827 billion and foreign sells of ₱2.518 billion.

Among the gainers were Atlas Mining, PNB, Aboitiz Power, Manila Water, SPNEC, AgriNurture, Century Food, SMC Food and Beverage, Figaro Coffee, Abacore, Apex Mining, and GMA 7.

The losers included Universal Robina, Ayala Corp., Metrobank, ICTSI, Axelum, ACEN Corp, First Gen, Alliance Global, Megaworld, San Miguel, SM Prime, and ABS-CBN. Alternergy, Semirara Mining, Basic Energy, Credit, and Meralco were unchanged.

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