PSE Index Declines

The Philippine Stock Exchange (PSE) buckled under intense selling pressure in the last 30 minutes of trade after hitting a new high, to close at its lowest point, 6,923.60 points from 29.28 points or 0.14 percent.

Photo Insert: The Philippine Stock Exchange (PSE) Index, October 1, 2021

Racing to a high of 6,984.75 points after opening 20 points lower, investors took care to sell their shares and take profits. Hard hit were the holding firms and property stocks resulting in the losses of the holding firms by 0.99 percent and property by 1.14 percent.

There were actually more gainers than losers, 103 to 86 with 53 shares unchanged as a result of the early surge in share prices.

The financials were up by 0.57 points, industrials by 0.43 percent, services by 6.70 percent, and ming and oil by 1.25 percent.

Value turnover was a hefty P21.99 billion with Monde emerging as the most active stock with P645 million, followed by MREIT with P558 million as it rose by 60 centavos to P16.70. Emperador advanced by 30 centavos to P18.00.

Converge was down by 5 centavos to P39.95, PLDT P40 to P1,640, while Globe gained P66 to P3,050. Aboitiz Power recovered with a 65-centavo increase to P31.65 while Bank of PI declined by 40 centavos to P81.05.

Among the gainers were AC Energy, up 34 centavos to P11.62, Ayala Corp, by 50 centavos to P817.50. Market bellwether SM Investments lost P15 to close at P975.00.

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