PSE Index Down

The Philippine Stock Exchange index today posted a decline with the sub-indices split, half of them up and the other half down closing 42.22 points or 0.66 percent to 6,303.19 points.

Photo Insert: The Philippine Stock Exchange (PSE) Index, June 29, 2022

Property giants SM Prime and Ayala Land were down 3.22 percent and 1.47 percent, respectively, consequently pulling down the property sub-index to a huge 2.14 percent drop to influence the PSE index loss as the financials lost 0.65 percent, and holding firms went down by 0.40 percent.

The industrials gained 0.06 percent, services up by 0.26 percent, and mining and oil by 0.89 percent. SM Prime lost p1. 20 to P36.10 while Ayala Land was down by 40 centavos to P26.80.

There were 97 gainers and 98 losers while 45 shares were unchanged with a value turnover 15 percent below average at P4.9 billion as many investors opted to be on the sidelines.

Converge was up by 10 centavos to P21.80 with trades of P469 million while PLDT was down by P15 to P1,765 and Globe unchanged at P2,280. The mixed results in the trading performances arise from the uncertainty in the market with differing takes on the economy.

Credit Suisse had signaled an optimistic forecast on the economy while others had a different view due to the Ukraine scenario. This is the reason, analysts said, on the roller-coaster ride of the market.

Market bellwether SM Investments lost P9 to P820 while Ayala Corp gained P1.50 to P628 while JG Summit was up by 95 centavos to P49.80.

Among the blue chips, BDO Unibank closed P2.20 lower to P114.30 while Bank of PI rose by 30 centavos to P86.40, Philippine Seven was up by P2.50 to P52.50 while PhilWeb was down by 61 centavos to P5.48, ICTSI gained 90 centavos to P195.90 while Megaworld lost 2 centavos to P2.28, Jollibee was up by P2 to P202 while AC energy lost 24 centavos to P7.90.

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