PSE Index Crumbles

The Philippine Stock Exchange (PSE) index today crumbled to 5934.27 points, down by 54.32 points or 0.91 percent, its lowest point in today's trading after climbing to a high of 6,021.58 points in mid-trade.

Photo Insert: The Philippine Stock Exchange (PSE) Index, October 6, 2022

Market bellwether SM Investments provided the clue to the continued weakness in market sentiment as it hit a high of 789.50 points only to buckle under selling pressure to P760 on a sell-down as the uncertainty remained over the horizon.

Only the services sub-index survived the selling pressure as it emerged unscathed with a 0.73 percent rise as port operator ICTSI gained P4.90 to P176, up by 2.86 percent with trades of P374 million.

Six others posted gains among the top 20 active stocks, the aforementioned being San Miguel, which went up by p2 to P101, Converge, up 40 centavos to P12.40, Metrobank, up 5 centavos to P51, JG Summit, up 15 centavos to P43.35, Semirara Mining, up 25 centavos to P40.25, and PLDT, up P15 to P1,530.

BDO Unibank went down by P1.50 to P114.40 as the Financials lost 0.36 percent. Holding firms lost 1.61 percent, industrials by 2.11 percent, mining and oil by 0.09 percent, and property by 0.29 percent.

Value turnover remained low at 30 percent lower to P4.3 billion. There were 84 gainers, 103 losers, and 41 shares unchanged.

Among the losers were Globe Telecom down P28 to P2,200, Puregold, down 90 centavos to P26.70, Universal Robina, down P2.10 to P110, Ayala Corp, down P7 to P629, Jollibee Foods, down P3.20 to P234.80, GT Capital, down P2 to P413, Synergy Grid, down 38 centavos to P11.10, Aboitiz Equity, down 90 centavos to P56, and Meralco, down P8.20 to P290.20.

WEEKLY FEATURE : MVP Group Keeps Lights On During Pandemic