PSE Index Continues Slide

The Philippine Stock Exchange (PSE) index today again threatened to go down a milestone level, only recovering before trading ended as it continued its slide, closing at 6,424.21 points, down by 24.69 points or 0.38 percent.

Photo Insert: The Philippine Stock Exchange (PSE) Index, June 21, 2023

Investors continue to remain on the sidelines as they await positive economic news.

The financials and the property sub-indices posted gains though, going up by 0.55 percent and 0.09 p[ercent respectively while industrials lost 0.75 percent, holding firms by 0.94 percent, services by 0.47 percent, and mining and oil by 1.39 percent.

Value turnover amounted below daily average at P5.1 billion with 69 gainers, 111 losers, and 42 shares unchanged.

The market is now awaiting the Bangko Sentral's response to the US Fed's interest rate pause to come up with the required differential although the BSP signaled it may, as well, go the way of a pause.

Ayala Land again emerged as the most active stock with trades of P883.1 million, although this time it posted a smallish gain of 15 centavos to P23.90, followed by market bellwether SM Investments with trades of P360 million as it added P9 to P924.

The third most active stock was Bank of PI with trades of P321 million as it gained P2 to P107.

Metrobank lost P1.30 to P63, JG Summit went down by P1.50 to P45.65, SM Prime went down by 5 centavos to P33.50, Ayala Corp, down by P5 to P615, Monde Nissin, down by 31 centavos to P7.99, Emperador, down by 20 centavos to P21.50, Universal Robina, down by P1.80 to P136.80, Converge, down by 34 centavos to P10.40, PLDT, down by P10 to P1,330, and Aboitiz Equity down by P4.50 to P52.

The gainers were BDO Unibank up by P1.50 to P141., Greenergy Holdings up by 1 centavo to P1.39, Puregold up by 80 centavos to P29, and Metro Pacific up by 2 centavos to P4.46. Unchanged were Jollibee Foods at P240 and ICTSI at P200 and Century Pacific at P24.30.

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