PSE Index Declines Further as Selling Pressure Persists

The Philippine Stock Exchange (PSE) index continued its decline on Tuesday, falling 29.23 points, or 0.50 percent, to 5,814.56, its intraday low, as investors remained cautious amid geopolitical and economic uncertainties linked to the Iran crisis.

PSE data confirmed the closing level and decline.
Holding firms posted the biggest decline among the major sectoral indices, falling 2.17 percent, while SM Investments Corp. rose 0.10 percent to ₱513.50. Ayala Corp. fell 8.07 percent to ₱490.
Financials declined 0.50 percent, industrial fell 0.28 percent, property dropped 0.97 percent, and mining and oil declined 1.00 percent.
Services was the only sectoral index to advance, gaining 0.86 percent. International Container Terminal Services Inc. rose 0.86 percent to ₱907.50, while PLDT and Converge ICT Solutions Inc. also posted gains, according to the market data supplied for the session.
Trading value was about ₱6.7 billion, while foreign transactions totaled about ₱7.87 billion.
Foreign investors recorded net selling of about ₱1.014 billion, with foreign buying at approximately ₱3.43 billion against foreign selling of ₱4.46 billion.
Market breadth remained negative, with 99 decliners against 90 advancers, while 58 issues were unchanged.
The PSEi's Tuesday decline followed a 0.21 percent drop in the previous session. The index has now fallen from 5,958.64 at the Sept. 17 close to 5,814.56, according to historical market data.
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