PSE Index Declines

The Philippine Stock Exchange (PSE) index today declined to 7,252.64, down by 40.88 points or 0.56 percent arising from the fallout from the hefty loss in the US market due to the expected interest rate increase that could affect investments in emerging markets.

Photo Insert: The Philippine Stock Exchange (PSE) Index, January 24, 2022

All sub-indices were down with the financials and mining and oil absorbing the big losses with the former down by 1.27 percent and the latter by 1.22 points. Holding firms were down by 0.68 percent, services by 0.57 percent, industrials, by 0.33 percent, and property, by 0.02 percent.

Market bellwether SM Investments declined by p9 to p950 with trades of p103.07 million, while Globe lost p58 to p3,260, SM Prime by 30 centavos to p34.40, PLDT, down by p19 to p1,859, Bank of PI by p1.10 to p93.60, Converge by 40 centavos to p30.60, Metrobank by 30 centavos to p58, AC Energy by 6 centavos to p9.59, and Ayala Corp by p6 to p862.

Solar Philippines was the top traded stock as it posted a hefty 13.29 percent or 23 centavos to p1.96, followed by new IPO issuer, Figaro, which advanced by 2 centavos to p0.77 on trades of p584 million.

The other gainers were ICTSI, which went up by p1.10 to p201, Monde by 14 centavos to p16.64, Ayala Land by 46 centavos to p35.10, and GT Capital by p2.50 to p567.50.

Value turnover amounted to p6. 04 billion with 62 gainers, 127 losers, and 48 shares u unchanged. Market players see a further decline on the expected fall out from the perceived increase in interest rates in the US that would mean expected investment outflows.

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