PSE Index Down In Rollercoaster Run

The Philippine Stock Exchange (PSE) index closed lower today after a rollercoaster run that saw it pulsating with an upward trajectory about an hour before the close of trading only to succumb to profit-taking to end the day 33.91 points down or 0.50 percent to 6,786.62 points.

Photo Insert: The Philippine Stock Exchange (PSE) Index, August 27, 2021

Market bellwether SM Investments went up to a high of P999 and then to a low of P975 as it mirrored the trading activity, closing at P975, a decline of P7 with trades of P100 million. All other shares also went through an up-and-down cycle as the trading progressed, especially the top telco stocks which remained the most actively traded.

Globe and PLDT again were the top traded stocks with P1.103 billion and P916 million value turnovers though the shares posted differing closing prices.

Globe, which had a high of P2,930 and a low of P2,792, ended the day with a P100 decline to P2,848, while PLDT was up by P18 to P1,467 as it went up to a high of P1,477 from a low of P1,405.

Dito CME also rose to P9.14 and dropped to P8.45 before nosing up to P8.60 but still down by 36 centavos from its Thursday trading. Converge went up by 30 centavos to P31.30 but it see-sawed between a high of P31.50 and a low of P30.60. Ayala Energy was unchanged at P9.20 with trades of P159 million.

Value turnover amounted to P6.86 billion with 84 gainers, 100 losers, and 64 shares unchanged. The financials and the industrials survived the selling pressure, rising by 0.17 percent and 0.49 percent respectively. The holding firms lost 0.31 percent, services by 0.25 percent, mining and oil by 1.48 percent, and property by 1.57 percent.

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