%20(3).png){kind=small}
![TFD [LOGO] (10).png](https://static.wixstatic.com/media/bea252_c1775b2fb69c4411abe5f0d27e15b130~mv2.png/v1/crop/x_150,y_143,w_1221,h_1193/fill/w_179,h_176,al_c,q_85,usm_0.66_1.00_0.01,enc_avif,quality_auto/TFD%20%5BLOGO%5D%20(10).png)
PSE INDEX DECLINES ON LATE SELL-DOWN
- By The Financial District
- May 3, 2021
- 2 min read
A late sell-down towards the close resulted in a decline in the Philippine Stock Exchange (PSE) index changing its pulsating green sign to a dismal red sentiment, down by a hairbreadth of 1.5 points or 0.03 percent to 6,369.28 points.
The close happened to be the index's lowest point in trading that saw net foreign selling again and a low turnover of just P4.385 billion with 111 losers, 83 gainers, and 56 shares unchanged.
The change in market sentiment was reinforced by the net foreign selling of P429 million on foreign buying of P1.596 billion, and foreign selling of P2.026 billion.
The financials and the holding firms posted gains of 0.25 percent, respectively, and 0.33 percent, while the industrials lost 0.54 percent.
Services were down by 0.13 percent, mining off by 0.33 percent, and property declining by 0.11 percent.
Ayala Land emerged as the most active stock as it bucked foreign selling of P145 million out of its P397 million to post a gain of P10 centavos to P32.30.
Ayala Energy, which has a follow-on offering of P6.50, was the second most active with P296 million in a trade that included foreign buying of P97 million as it rose by 19 centavos to P6.99.
Food giant Jollibee was the third most active at P264 million as it added P2.50 to close at P178.50.
Market bellwether SM Investments lost a peso to P960, while Converge went up by 44 centavos to P19.10, as the blue chips were hit by selling pressure about 20 minutes to close and with the index up a little over 50 points from Friday's performance.
Dito CME went down by 13 centavos P9.97, while Globe declined by P3 to P1,830. PNB also lopped off P1.15 from its Friday finish to close at P30, while Atlas Mining lost 64 centavos to P8.04.
Market analysts said that the PSE trading performance may continue to be a rollercoaster due to the continued high number of infections that necessitate lockdowns, consequently dampening business sentiment. Adding to the negative sentiment is the continued selling pressure from foreign investors.
