PSE INDEX DECLINES

The Philippine Stock Exchange (PSE) index declined today but still within its support level as investors liquidated their holdings in fears of the spike in Coronavirus cases and a rising crime rate leading to a 59.14 or 1.31 percent drop to 6719.18 points.

But the index went down to a scary 6,705.67 before recovering as select blue chips including bank stocks went down on foreign selling.

BDO Unibank had foreign selling of P64 million as it dropped by 90 centavos to P105, while Bank of PI, with foreign selling of P117 million, lost 80 centavos to P81.50.

But, Metrobank rose by 50 centavos to P48 benefitting from foreign buying of P22 million out of its total trade of P74.9 million.

The mining and oil and the property sub-sectors were up by 3.55 percent and 0.08 percent, respectively, while those that went down were financials at 0.56 percent, industrials at 1.25 percent, holding firms, 2.26 percent, and services, 0.93 percent.

Net foreign selling amounted to P808 million with foreign buying hitting P1.458 billion and foreign selling of P2.267 billion, with Ayala Land accounting for P141 million in foreign trade as it lost 75 centavos to P36.60.

Value turnover amounted to P8.523 billion with 120 advancers and 112 decliners, with 39 shares unchanged.

Market bellwether SM Investments lost 2.55 percent as it closed at 1,030, while market darling MerryMart was up by 51 centavos to P6.20.

Dito CME was the day's most active with P3.2 billion as it gained P1.50 to P10.50. PLDT declined by P19 to P1,309 while Globe Telecom lost P50 to P1,968.

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