PSE Index Down

The Philippine Stock Exchange (PSE) index today declined on disclosure of PLDT's P48 billion hit, going down a milestone level.

Photo Insert: The Philippine Stock Exchange (PSE) Index, December 19, 2022

It cut its losses, though on a recovery from other financials, industrials, and holding firms, plus a gain from property giants, to close at 6,414.27 points, down by 82.23 points or 1.27 percent.

PLDT emerged as the most active stock as foreign investors sold down their holdings on fears of the effect of a huge hole in its finances with trades of P1.47 billion. PLDT declined by a hefty 19.35 percent and at the close lost P286 to P1,192 as the stock plummeted at the post-lunch trade continuation which added P75 in losses.

Alliance Global was the second most active with trades of p959 million as it gained by 30 centavos to P11 followed by GT Capital which lost P22 on trades of P485 million.

Metro Pacific also went down by 3 centavos to P3.29 on trades of P269 million, due also to the PLDT meltdown.

Market bellwether SM Investments went down by P20.50 to P908.50, also due to the PLDT issue, while property giants SM Prime and Ayala Land rose on bargain hunting at the post-lunch trade, changing its losses at the lunch break of 0.10 to a gain of 1.17 percent. Ayala Land rose by 15 centavos to P29.40 while SM Prime gained 75 centavos to P33.05.

Financials lost 0.98 percent, industrials by 0.92 percent, holding firms by 0.48 percent, services by 5.98 percent, and mining and oil by 0.05 percent.

Total value turnover was three times the average at P18.72 billion, with 55 gainers, 123 losers, and 45 shares unchanged. Solar Philippines, which e ended the day unchanged at P1.08, was down 3 centavos at the lunch break.

Among the gainers were BDO Unibank, up 60 centavos to P107.80, Jollibee Foods up P4 to P235, Globe Telecom, up P80 to P2,150, and Ayala Corp, up P39 to P699. The losers were Metrobank, down 65 centavos to P54.90, JG Summit, down P1.55 to P47.45, ICTSI, down P9 to P196, and ACEN Corp, down 22 cents to P7.18.

PLDT opened at P1,435, gained P5, then went downhill to a low of P1,230 before nosing up a bit to P1,267 at the lunch break.

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