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PSE Index Down Anew
- By The Financial District
- Feb 18, 2022
- 2 min read
The Philippine Stock Exchange (PSE) index today declined anew, optimism remaining in the market albeit with a cautious stance as the property sub-index surged forward in the closing minutes to post a gain, that with the rise also in the mining and oil shares, led to a lower loss of 20.14 points or 0.27 percent to 7,418.79 points.
Photo Insert: The Philippine Stock Exchange (PSE) Index, February 18, 2022
Before the closing bell in the abbreviated trading, the property sub-index was pulsating a loss together with four others but big buying orders led to the surge, with Ayala Land emerging as the most active stock with trades of P588 million as it went up by 2.45 percent or P0.95 to P39.95.
SM Prime also gained by 26 centavos at the close toP38.20 as investors scurried to include property firms in their investment portfolio on increased economic demand for housing units which have a backlog of 5 percent. Robinsons Land was the second most active with P516 million as it posted a rise of 30 centavos to P19.50.
Gainers again were higher than losers, 94 to 86 with 53 shares unchanged as mining stocks gained traction again on the expected demand for metals with the continued rise in economic activities here and abroad.
Among the top gainers were the B shares of Manila Mining, up P0.001 to P0.011, and Lepanto, up P0.013 to P0.174. The B shares are reserved for foreigners although locals can purchase, all the same. Value turnover was above average at P7.4 billion.
The mining and oil sub-index gained 1.14 percent while that of property by 1.16 percent. The financials went down by 0.30 percent, industrials by 0.85 percent, holding firms by 0.57 percent, and services down by 0.50 percent.
Market bellwether SM Investments lost P6 to P921, its lowest price point, although it hit a high of P932. The telco stocks Globe, PLDT and Converge were down respectively closing at P2,700, a loss of P88, PLDT down P48 to P1,782, and Converge, down 70 centavos to P27.80.
Security Bank was unchanged at P117.50 while Ayala Corp also closed the same as Thursday at P860.
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