PSE INDEX DECLINES

The Philippine Stock Exchange (PSE) index today declined with all sub-sectors posting losses amid a continued sell-down from foreign investors to close at 6,164.89 points, down 34.36 points or 0.55 percent.

Net foreign selling amounted to P667 million on foreign buying of P1.731 billion and foreign selling of P2.399 billion with big-cap stocks getting clobbered on foreign sell down that included market bellwether SM Investments which had foreign selling of P50 million as it dropped by P3.50 to P906.50.

BDO Unibank, with foreign selling of P180 million out of its trade of P358 million good for most active status, declined by 90 centavos to P101.10, while Megaworld, the second most active stock, lost 10 centavos to P2.70 as foreign selling amounted to P82 million of its P281 million trade.

Globe went down by P24 to P1,796, while Ayala Land closed lower by 55 centavos to P31.60. Globe had foreign selling of P55 million and ALI, P60 million.

Ayala Corp also declined by P3.50 to P703.50 while Dito CME lost 52 centavos to P8.70.

The sense of the market was one of gloom as even with foreign buying of P56 million for PureGold, locals dumped their holding resulting in a 30 centavo loss to P35.

There were three gainers though with foreign buying. Food giant Jollibee eked out a P2.10 gain to P179.70 with P39 million in foreign buying; Metrobank, which rose by 40 centavos to P45.30 with P18 million in foreign buying, and Century Pacific, which rose by 5 centavos to P24 on buying of P26 million.

Value turnover was low at P4.477 billion with 79 gainers, 127 losers, and 40 shares unchanged. The property sub-sector posted the biggest loss of 1.68 percent followed by mining with a 0.63 percent decline. The financials went down by 0.24 percent, industrials, 0.44 percent, holding firms, 0.19 percent, and services, 0.24 percent.

WEEKLY FEATURE : TRUEMONEY PHILIPPINES BUCKS THE COVID-19 CHALLENGE