PSE Index Down Anew

The Philippine Stock Exchange (PSE) index today followed its Wednesday trend, rising higher until a sell-down brought it down to earth, to close 38.66 points down or 0.55 percent to 7,042.70 points.

Photo Insert: The Philippine Stock Exchange (PSE) Index, January 26, 2023

All the sub-indices were down with services in a hefty decline on profit-taking losing 1.65 percent while the others posted sub-one percent drops.

Financials went down by 0.27 percent, industrials by 0.26 percent, holding firms by 0.62 percent, mining and oil by 0.69 percent, and property by 0.13 percent. Market bellwether SM Investments was down by P3 to P942 while Figaro Coffee surged further on news of the 15 percent investment of Monde Nissin.

GT Capital emerged most active stock with P609 million as it posted a gain of P14 to P525, followed by BDO Unibank, which was unchanged at P122 on trades of P374 million. Figaro went up by 5 centavos to P0.96.

Value turnover was below average at p5. 11 billion with 107 gainers, 99 losers, and 49 shares unchanged.

The index rose to a high of 7,101.84 points but hit its lowest price point at the close as investors pocketed their gains, one gainer being Emperador, which went to a new high of P21.05 after gaining 15 centavos.

Analysts see a PSE Index at 7,500 points but with good prospects for the economy.

Among the losers were Ayala Corp, down by a peso to P748, Ayala Land down by 15 centavos to P32.65, ICTSI, down P5.60 to P211, ACEN Corp, down 10 centavos to P7.40, Bank of PI, down 60 centavos to P108.60, and Metro Pacific, down 6 centavos to P4.30.

Closing the list of shares that ended in the red were Robinsons Land, down. 24 centavos to P16.26, Globe Telecom, down P4 to P2,164, Nickel Asia, down 30 centavos to P6.80, and Metrobank, down 35 centavos to P58.55.

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