PSE Index Declines

The Philippine Stock Exchange (PSE) index today declined towards the close erasing its earlier gains with the holding firms sector finally gasping for breath unable to contain the sell down to close 54.98 points or 0.77 percent down to 7,085.69 points.

Photo Insert: The Philippine Stock Exchange (PSE) Index, January 11, 2022

Market bellwether SM Investments hit a high of p948 but closed P10 lower at p930 after hitting a low of p926.

The holding firms sub-index had steeled the index above Monday's close but it later gave in to the sell down that saw the mining and oil index losing 1.37 percent and property down by 1.29 percent.

The financials lost 0.37 percent as BDO Unibank declined by p2.50 or 2 percent. Metrobank and bank of pi however posted gains respectively of 60 centavos to p55.80 and 20 centavos to p94.90. Industrials lost 0.89 percent, holding firms, 0.54 percent, services by 0.45 percent.

Value turnover was above average at p6.9 billion with 82 gainers, 105 losers, and 43 shares unchanged. Solar Philippines was the top traded stock with p429 million in trades as it closed 4 centavos higher to p1.33 while Ayala Land was the second most active stock at p393 as it closed 5 centavos down to p34.45.

Among the gainers were Globe, up p60 to P3,300, gt capital up p4.50 to p532.50, PLDT, up p26 to P1,848, and JG Summit, up p1.75 to p58.75.

The losers were Jollibee, down p2.40 to p220.40, Monde down 24 centavos to p15.68, AC Energy, down 49 centavos to p 9.15, Converge, down p1.50 to p30.50, Puregold, down 55 centavos to p36.

WEEKLY FEATURE : MVP Keeps Lights On During Pandemic