PSE Index Declines
The Philippine Stock Exchange (PSE) index today declined in trading showing the effects of the PSE index recalibration where Security Bank emerged most active with trades of P2.3 billion as it lost 10 centavos to P82, and Semirara Mining, which takes the place of the bank in the PSE basket, gaining 10 centavos to P41 on trades of P2.2 billion.
Photo Insert: The Philippine Stock Exchange (PSE) Index, August 5, 2022
As a result, PSE lost more than its two days of gains to close at 6,405.50 points, down by 77.61 points or 1.20 percent, its lowest point in today's trading but not after the index flirted with a new milestone level hitting 6,519.80 points after the opening bell.
All the sub-indices posted losses with the financials and the industrials going down fractionally at 0.27 percent and 0.16 respectively while the property lost a hefty 1.73 percent.
Holding firms went down by 1.36 percent, services by 1.54 percent, and mining and oil by 1.46 percent. Market bellwether SM Investments went down by P12 to P780 while San Miguel declined by P4 to P100.50 even as it declared earnings of almost P20 billion.
Value turnover was double the average at P12.7 billion on the strength of the trades in Security Bank which will be taken out of the PSE index basket with Semirara Mining now included in place of the bank following the PSE recalibration.
Monde rose by 30 centavos to P15.80, ACEN, up 15 centavos to P8.86, Ayala Corp up P4.50 to P697, Jollibee up P2.40 to P214.80, Converge, up 6 centavos to P20 and Bank of PI were the only gainers among the Top 20 most active stocks .
Among the losers were ICTSI, down P3.30 to P184.60, SM Prime down 80 centavos to P36.70, PLDT down P50 to P1,710, Meralco down 60 centavos to P316, Globe down P50 to P2,010, and Metrobank, down P1.30 to P47.70.