PSE Index Declines

The Philippine Stock Exchange (PSE) index today declined on profit-taking, closing a milestone below 6,704.41 points, down by a hefty 159.45 points or 2.32 percent.

Photo Insert: The Philippine Stock Exchange (PSE) Index, August 22, 2022

The top seven most traded stocks posted big losses with most active stock SM Prime, which traded at P568 million, declining by P1.40 or 3.69 percent to P36. 55, while Ayala Corp dropped by P33.50 or 4.35 percent to P736 with trades of P206.27 million.

Ayala Land was second most active with P412 million as it went down by 65 centavos or 2.20 percent to P28.90. ICTSI lost P2.20 to P184.80, Abacore Capital by 3 centavos to P2.17, Security Bank by P1.65 to P88.85, and Converge by 34 centavos to P19.20.

The other declines were market bellwether SM Investments, down P33 to P850, Bank of PI down P3.45 to P92.35, Monde, down 10 centavos to P16.20, and Universal Robina, down P3 to P124.

Closing the list of active stocks in the red were BDO Unibank, down P2.80 to P126.50, Globe, down P60 to P2,300, and Aboitiz Equity down P2.90 to P57.50.

Emperador gained 90 centavos to P21.50 while PLDT rose by P19 to P1,769. The other gainers in the Top 20 most active stocks were Jollibee Foods, up by P5 to P233, and Solar Philippines up 2 centavos to P1.67.

There were 132 losers, 62 gainers, and 39 shares unchanged with the value turnover below average at P5.4 billion.

Holding firms suffered the biggest loss with a decline of 3.46 percent followed by property down by 2.88 percent, and Financials down by 2.46 percent. Industrials lost 0.32 percent, services by 0.57 percent, and mining and oil by 1.56 percent.

Market analysts see the market with a bias below 6,700 points after it failed to hit the 6,900 level. The market opened lower from its Friday close and went up a bit to 6,848 points before encountering the selldown to hit its lowest point at the close.

WEEKLY FEATURE : MVP Group Keeps Lights On During Pandemic