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PSE Index Down On Delta
- By The Financial District
- Sep 1, 2021
- 2 min read
The Philippine Stock Exchange (PSE) index today declined on the Delta variant of COVID-19, which has seen a marked rise in transmissions that unnerved investors, but the rise in financials and the mining and oil index tempered the fall to a 69.50 point drop or 1.01 percent to 6,785 points.
Photo Insert: The Philippine Stock Exchange (PSE) Index, September 1, 2021
Value turnover remained above-average at P8.815 billion with 101 gainers, 97 losers, and 41 shares unchanged as investors cherry-picked shares with tantalizing share prices such as BDO Unibank which rose by P3.10 to P113. and Metrobank, which went up by 5 centavos to P45.25. Metro Pacific also rose, on the share buyback program of the company, going up by 2 centavos to P3.87 with trades of P59.2 million.
Many listed shares have started their share buyback programs that result in an effective rise in the prices of shares owned by investors.
Emerging as the most active stock was Ayala Energy, followed by Phil Seven, with the former rising by 27 centavos to P9.86 with trades of P586 million, and the latter down by 70 centavos to P85 with trades of P565 million.
Globe and PLDT were up P40 to P2,760 and P14 to P1,479, while Converge also rose by P1 to P32. Dito CME also rose by 7 centavos to P8,39.
Market bellwether SM Investments dropped by 60 centavos to P985, while Aboitiz Power went up by 40 centavos to P28.40. Ayala Land and SM Prime respectively went down by 70 centavos to P33.05 and by P60 centavos to P33.40, resulting in a hefty decline of 1.69 percent for the property sub-index.
The other indices that dropped were industrials, down by 0.65 percent, holding firms, by 1.42 percent, services l by 0.53 percent. The other gainer was the mining and oil sub-index, which advanced by 0.76 percent.
The decline in the index followed the announcement of the WHO that the rising COVID-19 transmissions were due to the Delta variant that has accounted for over 60 percent of the infections hitting various regions in the country, notably NCR Plus.
