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PSE Index Cools a Bit
- By The Financial District
- 6 minutes ago
- 2 min read
The Philippine Stock Exchange (PSE) index cooled slightly on Tuesday, slipping 11.20 points, or 0.17 percent, to close at 6,408.76.
A gain of 2.10 percent in the mining and oil sub-index helped cushion declines in four other sectors. Financials fell 0.21 percent, industrials dropped 0.56 percent, holding firms slipped 0.17 percent, and property declined 0.44 percent.
Services, however, rose 0.48 percent, led by ICTSI, which gained 0.64 percent to ₱630.
Cebu Air edged up 0.15 percent to ₱33.25, Globe Telecom climbed 1.23 percent to ₱1,640, and Converge advanced 2.70 percent to ₱16.
OceanaGold continued to glitter, rising 2.76 percent to ₱37.25, while Philex Mining added 2.64 percent to ₱11.68. Apex Mining, however, cooled off, slipping 0.73 percent to ₱13.62 after hitting an intraday high of ₱14.28.
The market lost momentum after climbing to an intraday high of 6,436.94, then slid to a low of 6,392.88 before recovering slightly at the close.
Foreign investors continued to enter the market, posting net buying of ₱506 million.
Foreign buying amounted to ₱3.411 billion, while foreign selling totaled ₱2.905 billion, for total foreign trades of ₱6.31 billion.
BDO Unibank closed in the red at ₱141.20, down 0.91 percent, but still saw net foreign buying of ₱19 million out of ₱384 million in trades. Bank of the Philippine Islands also recorded net foreign buying of ₱52 million out of ₱218 million as it rose 0.41 percent to ₱123.90.
Value turnover reached ₱6.75 billion, with 104 gainers, 94 losers, and 70 unchanged stocks, including PLDT, Ayala Land, Ginebra, Axelum, Topline, Shell Pilipinas, First Gen, the PSE, and Belle Corp.
Among the gainers were Universal Robina, Ayala Corp., PNB, ACEN Corp., JG Summit, Nickel Asia, ABS-CBN, GMA Network, Robinsons Land, Megaworld, GT Capital, and MREIT.
Decliners included Jollibee Foods, Meralco, SM Investments, SM Prime, San Miguel, Monde Nissin, Abacore, Bloomberry, PhilWeb, Alliance Global, and Century Food.
