PSE Index Down Fractionally

The Philippine Stock Exchange (PSE) index closed fractionally lower today as gains in index-heavy holding firms offset losses in four sub-indices.

The Philippine Stock Exchange (PSE) Index, December 12, 2024

The index ended at 6,641.35 points, a decline of 1.36 points or 0.02 percent, amid another day of net foreign selling.

Market bellwether SM Investments boosted the holding firms sub-index, which rose by 0.60 percent. SM Investments gained P16.50 or 1.86 percent, providing support for the overall index.

The services sector also posted gains, rising by 0.72 percent. However, financials lost 0.03 percent as BDO Unibank, the most actively traded stock with P864 million in trades, declined by 3.14 percent to P148.20, down by P4.80.

Other losing sectors included industrials, down by 0.46 percent; mining and oil, down by 0.12 percent; and property, which fell sharply by 0.98 percent, weighed down by losses from property giants Ayala Land and SM Prime.

Foreign investors were net sellers, with net foreign selling amounting to P381 million. Foreign buying totaled P2.906 billion, while foreign selling reached P3.288 billion. Total value turnover stood at P6.184 billion.

There were 82 gainers, 96 losers, and 70 shares unchanged. The index had earlier dropped to a milestone low of 6,598.50 points before recovering to its current level.

There was limited local investor activity as the market lacked strong catalysts. After previously breaching the resistance level of 7,500 points, the market slid back to the 6,600-point level.

Among the gainers were ICTSI, Bank of the Philippine Islands, Digiplus, Alternergy, PNB, Union Bank, China Bank, PSE, Century Food, First Gen, Synergy Grid, CEMEX Holdings, D&L Industries, Vitarich, Megawide, Aboitiz Equity, Alliance Global, GT Capital, LT Group, AREIT, DoubleDragon, ABS-CBN, Converge, Dito CME, Puregold, MacroAsia, PhilSeven, Apex Mining, and Atlas Mining.

The decliners included Jollibee Foods, Universal Robina, Security Bank, PLDT, Aboitiz Power, Semirara Mining, ACEN Corp., Monde Nissin, JG Summit, Globe Telecom, Cebu Air, Belle Corp., Bloomberry, Wilcon Depot, and Philex Mining.

Meanwhile, unchanged stocks included Citicore REIT, Figaro Coffee, SPNEC, Emperador, Megaworld, Ginebra, Nickel Asia, Robinsons Land, MRC Allied, San Miguel, and Boulevard Holdings.