%20(3).png){kind=small}
![TFD [LOGO] (10).png](https://static.wixstatic.com/media/bea252_c1775b2fb69c4411abe5f0d27e15b130~mv2.png/v1/crop/x_150,y_143,w_1221,h_1193/fill/w_179,h_176,al_c,q_85,usm_0.66_1.00_0.01,enc_avif,quality_auto/TFD%20%5BLOGO%5D%20(10).png)
PSE Index Declines
- By The Financial District
- Nov 3, 2022
- 2 min read
The Philippine Stock Exchange (PSE) index today declined by 50.13 points or 0.81 percent to 6,156.11 getting its cue from the US Fed's 75 basis points rise in interest rates that hit global markets.
Photo Insert: The Philippine Stock Exchange (PSE) Index, November 3, 2022
The index actually recovered its losses as bargain hunters pushed up the services and mining and oil sub-indices at the close. It had gone down to as low as 6,110.03 points at the midpoint of trading with all sub-indices then down before the losses were pared down on bargain opportunities.
Emerging as the most active stock was port operator ICTSI, which traded P608 million as punters bought shares as it hit a low of P161.80, pushing the price to a high of P176 before it settled at P172, a gain of P9.50 or a 5.85 percent rise.
BDO Unibank was second most active with P472 million as it lost P2.40 to P126.80, while third most active was SM Prime, which was unchanged at P32.30 with trades of P300.6 million.
Services was up by 1.27 percent while mining oil gained 1.96 percent to counter a bit of the losses in Financials, which went down by 0.57 percent, industrials, by 1.03 percent, holding firms by 1.74 percent, and property by 0.76 percent.
Value turnover was below average showing investors' risk appetite at P4.45 billion, with 61 gainers, 114 losers, and 37 shares unchanged. Market bellwether SM Investments lost P23 to P820, though it dropped to as low as P800.50 following the US Fed rate increase.
The Bangko Sentral had said that it will keep in step with the US rate rise even as it battles the decline in the peso's value vis-a-vis the US dollar that is seen to further hurt the country's economic prospects.
Semirara Mining went up by P1.45 to P35.25, Bank of PI rose 15 centavos to P94.15, Globe Telecom, up P30 to P2,260, Security Bank, up 50 centavos to P88.45, Emperador, up 12 centavos to P19.62, Jollibee Foods, up P1.20 to P28, and LT Group, up 12 centavos to P8.50.
