PSE Index Declines

The Philippine Stock Exchange index today declined on profit-taking, closing at 6,352.32 points, down by 92.69 points or 1.44 percent with value turnover still muted at just P4.68 billion.

Photo Insert: The Philippine Stock Exchange (PSE) Index, July 7, 2022

For a while, after opening a bit lower, the index went up to 6,425.23 points. But, it immediately changed gear and dropped to as low as 6,332.54 on the sell-down before nosing up a bit.

Top traded Ayala Land closed 75 centavos lower to P26.15 or 2.79 percent down on trades of P425 million but the shares run-up to a high of P27.40 after opening at P26.90.

Second-traded ICTSI lost 4.17 percent to P186.20, down P8.10 while BDO Unibank went down by P3.20 to P116.30.

Market bellwether SM Investments bucked the trend closing higher by P5 to P844 though it sent shudders early as it hit a low of P817 on profit-taking.

All sub-indices closed lower with industrials down by 2.31 percent, financials down 1.62 percent, holding firms by 0.26 percent, services by 1.97 percent, mining and oil by 1.80 percent, and property by 1.50 percent.

The gainers were Ayala Corp up by P4 to P654, Converge up by 25 centavos to P21.20, Metrobank up 20 centavos to P48.75, Abacore up 11 centavos to P1.64, Semirara Mining up 15 centavos to P36.50, and Megaworld up 4 centavos to P2.26.

The losers included Jollibee down P2 to P205, Bank of PI down P1.60 to P87.30, Nickel Asia down 30 centavos to P5.80, AC Energy down 24 centavos to P8.16, and Emperador down 20 centavos to P17.70.

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