PSE Index Declines

The Philippine Stock Exchange (PSE) index today declined on lack of comforting news from Ukraine and the economic worries from the fallout as a result, even with the release of healthy inflation numbers to close 46.08 points or 0.62 percent lower to 7,342.01 points.

Photo Insert: The Philippine Stock Exchange (PSE) Index, March 4, 2022

Value turnover was below average at P5.22 billion as investors stayed on the sidelines awaiting better economic news although the index showed a slight uptick from its numbers during the market recess which is at 7,335.75 points, a decline of 52.34 points or 0.71 percent.

Emerging most active was PLDT, which was up by P20 to P1,850 on trades of P419 million on news of its sale and leaseback of its cell towers that would mean an additional P50 billion for its war chest.

Globe also rose by P10 to P2,570, while ICTSI succumbed to profit-taking, dropping by P1.80 to P7226 million, on trades of P399 million, good for second most active.

Mining and oil land property sub-indices gained 0.40 percent and 0.11 percent respectively while the financials lost 0.18 percent, industrials, by 1.03 percent, holding firms, by 1.25 percent, and services by 0.50 percent.

Nickel Asia gained 15 centavos to P8.30 while Semirara went down by 80 centavos to P31.90, while Ayala Corp was unchanged at P848.

Jollibee declined by P1.80 to P241, while Solar Philippines dropped by a centavo to P2.12. Market bellwether SM Investments went down by P25 to P932, one of 102 losing stocks. There were 89 gainers and 44 shares were unchanged.

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