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PSE Index Declines
- By The Financial District
- Feb 20, 2023
- 2 min read
The Philippine Stock Exchange (PSE) index today declined to 6,744.12 points, down by 34.90 points or 0.52 percent.
Photo Insert: The Philippine Stock Exchange (PSE) Index, February 20, 2023
The Philippine market is just less than 50 points away from going below its support level that does not translate to the much-awaited bullish run.
All the sub-indices posted declines with mining and oil losing the most with a decline of 1.21 percent. Financials lost 0.39 percent, industrials 0.68 percent, holding firms 0.43 percent, services down 0.15 percent, and property by 0.49 percent.
Market bellwether SM Investments emerged most active with trades of p221 million as it lost P3 to P872.
Value turnover was 40 percent below average to P3.302 billion, indicating the loss of enthusiasm from investors with the upcoming rise in interest rates as central banks try to rein in the out-of-control inflation rates.
Even the Bangko Sentral ng Pilipinas is seen to up its rates even with the 50 basis points it mandated with the increases in energy prices, food, and utilities.
BDO Unibank was the second most active stock with p207 million as it closed 50 centavos lower to p124. 50 followed by Ayala Land with p183 million as it lost 25 centavos to p29.10. There were 72 gainers, 115 losers, and 47 shares unchanged.
The only gainers among the Top 20 were Metro Pacific, up by 3 centavos to P4.21, AllHome, up 23 centavos to P2.94, and PLDT, up p19 to P1,374. Ayala Corp was unchanged at P668.
Among the losers were SM Prime, down 10 centavos to P36.90, Globe Telecom. down P20 to P2,020,GT Capital, down P9 to P520, Aboitiz Power, down 75 centavos to P37.75, Bank of PI, down a peso to P104.50, Puregold, down P1.10 to P32, and Megaworld, down 6 centavos to P2.16.
Rounding out the list of decliners were Nickel Asia, down 13 centavos to P7.16, Jollibee Foods down P3.20 to P237, Aboitiz Equity, down a peso to P54.50, ICTSI, down P1.80 to P209.40, and Metrobank down 5 centavos to P59.95.
