PSE Index Down A Bit

The Philippine Stock Exchange index today declined closing at 6,758.59 points, down by 11.03 points or 0.16 percent with the lack of catalysts to guide the market.

Photo Insert: The Philippine Stock Exchange (PSE) Index, June 9, 2022

But the optimism remains as the market was able to claw back more than 60 points as bargain hunters bought into faltering share prices before the close after the index went down to as low as 6,684.63 points.

The industrials sub-index closed with a gain after all sub-indices were signaling red flags toward the close. It posted a healthy rise of 1.07 percent while the other five posted losses.

Financials declined by 0.22 percent, holding firms by 0.32 percent, services by 1.54 percent, mining and oil by 1.23 percent, and property by 0.05 percent.

Value turnover remained below average at P5.2 billion with 79 gainers, 97 losers, and 56 shares unchanged. Market bellwether SM Investments bucked the trend as it gained p10 to p862 while top-traded ICTSI lost 3.79 percent as it closed at P203, down by P8 on trades of P667 million.

SM Prime gained 25 centavos to P38.60, resulting in a smallish decline in the property index of 0.05 percent while the big decline in ICTSI pushed up the services to drop by 1.54 percent, the biggest loss among the sub-indices.

Among the gainers were BDO Unibank which rose by 80 centavos to P129.80, PLDT up by P5 to P1,920, Monde up a peso to P15, Emperador up by 8 centavos to P17.28, Bank of PI up 80 centavos to P97.80, and AC Energy up 11 centavos to P7.65.

The losers included Security Bank lost 50 centavos to P93, Converge down 15 centavos to P24, Ayala Corp down P23 to P671, and Semirara Mining down 70 centavos to P35.70.

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