PSE Index Down Anew

The Philippine Stock Exchange index today declined anew on war drums emanating from Ukraine with shares of stock being sold down getting buyers looking for bargains to close to a lower milestone level of 7,364.21 points, down by 76.70 points or 1.03 percent.

Photo Insert: The Philippine Stock Exchange (PSE) Index, February 23, 2022

Only the services and mining and oil sub-indices survived but with just sub-one percent gains of 0.23 and 0.12 percent respectively as news of the support of Russia's leader Vladimir Putin to separatist regions in Ukraine filtered into the stock market.

Property lost a hefty 2.17 percent, holding firms 0.78 percent, industrials 0.75 percent, and financials, 0.53 percent.

Value turnover was above average at p7.78 billion with 86 gainers 93 losers and 67 shares unchanged. BDO Unibank emerged as the most active stock closing 20 centavos lower to p134.80 on trades of p409 million, while Dito CME declined by 30 centavos to p6.60 on trades of p389 million, and third most active was Universal Robina which closed p3. 50 lower to p121.50 million.

Citicore REIT closed unchanged at p2.84, the midpoint of its low and high price points with trades of p2.80 and p2.90 as investors were tentative in their investment decisions with the Ukraine story unfolding that could trigger economic repercussions on a global scale.

Market bellwether SM Investments again showcased the fact that investments were in tenterhooks as it had wild swings, in its trading hitting a low of p877 and a high of p898.50 before closing at p880, down by p15.

Monde, too, swung from an opening of p15.50, went down to p15.20 before closing up at p15.80 a 32 centavos gain.

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