PSE Index Down Again

The Philippine Stock Exchange (PSE) index experienced another decline today, shedding 30.53 points or 0.47 percent to reach 6,511.93 points.

The Philippine Stock Exchange (PSE) Index, May 10, 2024

Financials took a hit, losing 0.91 percent, while the industrial sector dipped by 0.15 percent. Services also declined by 0.42 percent, and the property sector lost 0.94 percent.

However, holding firms managed to gain 0.38 percent, and mining and oil rose by 0.97 percent.

Value turnover was below average at P3.67 billion, indicating a lack of interest in the market due to the absence of catalysts to drive it. Foreign investors continued to be net sellers, amounting to P348 million, with foreign buying at P1.47 billion and foreign selling at P1.89 billion.

Gainers included Ayala Land, ABS-CBN, Cebu Air, Puregold, Wilcon Depot, Globe Telecom, Aboitiz Power, Monde Nissin, ACEN Corp, PNB, Alternergy, Cemex Holdings, SPNEC, AgriNurture, Figaro Coffee, Cisco Capital, Megawide, and Top Frontier.

On the losing side were Security Bank, Union Bank, Metrobank, Bank of PI, Aboitiz Equity, Synergy Grid, Universal Robina, SM Prime, Bloomberry, and Belle Corp. Unchanged stocks included Abacore, San Miguel, Ayala REIT, Robinsons Land, Lepanto, Philodrill, and PAL.