PSE Index Down

The Philippine Stock Exchange index today declined further to 6,721.08, down by 10.17 points or 0.15 percent though it had a fleeting moment where it was headed to an upside possibility after a disastrous ride last Friday, but selling pressure prevailed.

Photo Insert: The Philippine Stock Exchange (PSE) Index, May 2, 2022

Value turnover was at a dismal low of p3. 6 billion indicating the anemic treatment of investors on the market with the prevailing uncertainty on the economy due to the inflation spiral caused by the Ukraine crisis that saw oil and food prices rise.

Only the industrials posted a gain of 1.06 percent with the other sub-indices down, a remnant of the early rise of the index to a high of 6,764 before succumbing to the sell-down.

Financials lost 1.18 percent, holding firms, 0.06 percent, services, 0.67 percent, mining and oil, 0.42 percent, and property by 0.16 percent.

Market bellwether SM Investments led the 99 losers while most actively traded Ayala Land led the 66 gainers.

There were 67 shares unchanged, including SM Prime, which closed at P35, and ICTSI, at P215.60, both in the top 20 most active stocks. SM closed P2.50 lower to P849 while Ayala Land wwent up by 5 centavos to P32.10.

Converge was down by P1.50 to P27.30, PLDT, by P1 to P1,865, Bank of PI, down by P1 to P93.90, Monde, up by 42 centavos to P13.40, Jollibee, up by P5 to P220, Globe, up by P4 to P2,274, Metro Pacific, up by 2 centavos to P3.82, Aboitiz Equity up by 10 centavos to P50.70, and Solar Philippines, down by 3 centavos to P1.54.

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