PSE Index Down On Foreign Selling

The Philippine Stock Exchange (PSE) index plunged Wednesday, marking a significant decline as foreign investors remained net sellers.

The Philippine Stock Exchange (PSE) Index, December 11, 2024

The index closed at 6,642.71 points, down by 82.11 points or 1.22 percent.

All sub-indices were down except for financials, which rose by 0.21 percent, buoyed by the most active stock, BDO Unibank. BDO closed P1 higher at P153 on P944 million in trades.

Also up was the second most traded stock, Bank of the Philippine Islands (BPI), which had a value turnover of P415 million and advanced by 10 centavos to P130. Market bellwether SM Investments, however, dropped by P13.50 to P886.50.

The other sub-indices showed declines: holding firms dropped by 1.42 percent, industrials by 0.43 percent, services by 2.73 percent, mining and oil by 0.58 percent, and property by 1.45 percent.

Foreign selling reached P3.225 billion, overshadowing foreign buying of P2.727 billion, resulting in net foreign selling of P497 million. Total value turnover amounted to P5.22 billion, with 80 gainers, 112 losers, and 55 shares unchanged.

Notable gainers included DigiPlus, Universal Robina, AREIT, AgriNurture, Security Bank, Alternergy, Metrobank, Synergy Grid, Belle Corp., Apex Mining, Atlas Mining, San Miguel, Puregold, and Philweb.

Among the unchanged stocks were Union Bank, Aboitiz Power, Manila Water, Ginebra, Figaro Coffee, CREIT, and MREIT.

The decliners included Ayala Land, ICTSI, SM Prime, PLDT, Jollibee Foods, Semirara Mining, PNB, PSE, ACEN Corp., CREC, First Gen, Meralco, Monde Nissin, Cebu Air, PAL, Nickel Asia, Globe Telecom, Oceana Gold, Bloomberry, Wilcon Depot, and Aboitiz Equity Ventures.