PSE Index Declines

The Philippine Stock Exchange index today declined with value turnover a tad below average as investors remained picky in their investments with the inflationary spiral dampening interest to close at 6,716.88 points, down by 24.52 points or 0.36 percent.

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

Only the property sub-index bucked the trend on account of the performance of sm prime which closed P1.55 or 4.09 percent higher to P39.45 on trades of P1.12 billion to emerge as the most active stock.

Ayala Land, however, did not fare well, closing down at P29. 95 down by 5 centavos though it hit a high of p30. 10 after gyrating to a low of P29.30. Property, as a result, rose by 2.08 percent.

Mining and oil lost 2.15 percent, holding firms by 1.61 percent, industrials by 1.01 percent, services by 0.71 percent, and financials by 0.11 percent. There were 134 losers against 60 gainers and 47 shares unchanged. Investors were buying or selling shares based on disclosures of listed firms.

Thus, AC Energy closed 20 centavos higher to P7.31 on the suspension of its stock rights offering while albacore holdings went up by 3 centavos to P1.46 with its disclosure of property dividend declaration of its company, Pride, which it would then list by way of introduction.

Xurpas was the biggest gainer at P0.365, up by P0.04 on the pronouncement of a new head for the company.

Aslag debuted as an IPO with a 5-centavo rise to P2.05 while Globe rose to P2,364, up by P36 while PLDT and Converge posted respective losses of P27 to p1,910 and Converge down by P1.35 to P23.85. The other gainers were BDO Unibank up 50 centavos to P129, Bank of PI up 10 centavos to P95.10, and ICTSI up 40 centavos to P215.

Market bellwether SM Investments declined by p4 to p861 though it rose to P864.50 after hitting a low of P8.55.

Investors are seen to stay on the sidelines with the lack of great economic news as the Ukraine crisis continues to play out resulting in disruptions in the supply chain and higher oil and food prices.

Among the losers were Ayala Corp down P33.50 to P661.50, Semirara Mining down by P1.05 to P35.95, Security Bank down P3.25 to P88, and Jollibee down P5.20 to P201.20.

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