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PSE INDEX CRUMPLES ON FOREIGN SELLING
- By The Financial District
- Apr 27, 2021
- 2 min read
The Philippine Stock Exchange (PSE) index today crumpled anew on continued foreign selling closing 32.91 points or 0.52 percent to 6,356.47 points with the mining and oil index posting the only gain.
Property giants Ayala Land, which is the most active stock with P539 million in trades, and SM Prime, which brought down the property sub-sector by 1 percent as the former closed 45 centavos lower to P32.05, while the latter 25 centavos lower to P34.65.
Ayala Land foreign selling amounted to P188 million while SM Prime had P22 million.
Selldown of P11 million out of its trades of P90 million.
Net foreign selling hit P657 million on foreign buying of P1.512 billion and foreign selling of P2.111 billion, as the industrials lost 0.21 percent, financials, 0.49 percent, holdings, 0.27 percent services, 0.36 percent. Only the mining sector survived the sell down with a 1.43 percent gain as news about the projected mining activities resonated.
Bloombery Resorts also crumpled by 23 centavos to P6.17 as foreigners dumped P188 million worth of shares out of total trade of P217.6 million, the second most active stock.
Total value turnover was low at P4.611 billion as the locals were rattled by the pandemic's surge and the news that the economy will just have a 6.2 percent growth as against the projected 8 percent due to the effect of the lockdown which hit P180 billion off the economy.
Losers were ahead of gainers 119 to 83 with 51 shares unchanged, market bellwether SM Investments surviving the market decline with foreign buying of P11 million out of its P138 million resulting in a one peso gain to P959.
Telco stocks PLDT and Globe declined respectively by a peso to P1,279 and P20 to P1,900.
Dito CME also lost 6 centavos to close at P9.96.
BDO Unibank declined by P1.20 to P104 while Metrobank lost 45 centavos to P44.50, while PNB gained P1.25 to P27.15 on news of a property dividend coming from PNB Holdings, which owns prime properties that are being readied for possible joint ventures.
