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PSE Index Down A Bit
- By Lito U. Gagni
- Feb 16, 2023
- 2 min read
The Philippine Stock Exchange (PSE) index today declined a bit on profit-taking, with share prices that rose for the past two weeks being sold off due to the lack of healthy economic news.
Photo Insert: The Philippine Stock Exchange (PSE) Index, February 16, 2023
The market, which continues to struggle with its volatility as prospects for higher US interest rates telegraphed before with the continued spike in inflation, closed at 6,815.91 points, down by 6.18 points or 0.09 percent.
Metro Pacific, which went up first on news of possible tender offers and then of a tie-up with a Japanese firm, emerged most active with trades of P343 million, as it went down by 4.09 percent to P4.27, down by 21 centavos as investors cashed in their gains after a weakness felt Wednesday.
BDO Unibank, also declined by 1.04 percent to P124.20, down by P1.30 with trades of P307 million while third most active was Ayala Corp which lost P3.50 to P670 with value turnover of P232 million.
Financials lost 0.92 percent, services by 0.01 percent, mining and oil by 1.11 percent, while industrials gained 0.05 percent, holding firms by 0.14 percent, and property went up by 0.32 percent.
Value turnover was double the average with P12.2 billion with 80 gainers, 102 losers, and 54 shares unchanged. Market analysts see a period of continued volatility with the Bangko Sentral announcement on interest rates being awaited.
Market bellwehter SM Investments went down by P3 to P888 Globe Telecom down by P9 to P1,970, Metrobank lost P1.50 to P61, Bank of Pi went down by 90 centavos to P105.10, ICTSI by a peso to P209, SM Prime by 15 centavos to P37.85, Monde Nissin by 8 centavos to P12.16, and GT Capital by P1.50 to P542.50.
Meralco and Universal Robina were both unchanged at P309 and P147.40, respectively.
The gainers were Ayala Land, which went up 55 centavos to P29.60, JG Summit, up P1.25 to P54, Alliance Global, up 6 centavos to P13, Bloomberry Resorts, up 12 centavos to P10.12, Figaro Coffee, up 5 centavos to P0.90, and Aboitiz Power up 30 centavos to P39.30.
