PSE Index Down On Profit-Taking

The Philippine Stock Exchange (PSE) index today went down on profit-taking after Monday's surprise surge to close at 6,502.85 points, down by 20.24 points or 0.35 percent.

Photo Insert: The Philippine Stock Exchange (PSE) Index, June 27, 2023

At one point, the market even went down a milestone level lower as only two of the sub-indices managed to eke gains in an uneventful trading day with a holiday coming Wednesday.

Value turnover amounted to just P4.1 billion, almost a third lower than the average trade of P6 billion as the financials lost 0.30 percent, holding firms down by 0.79 percent, mining and oil down by 0.92 percent and property down by 0.45 percent.

Industrials and services were up respectively by 0.22 percent and 1.14 percent. ICTSI emerged most active with P599 million in trades as it added P3 to P209, followed by market bellwether SM Investments with P329 million as it lost P10 to P919 despite that it went to a high of P937.50 and a low of P915.

BDO Unibank was third most active with P307 million as it went down by P3 to P137.

Investors unloaded their winning stocks and gravitated to other blue chips. Metro Pacific went up by 4 centavos to P4.79 while Jollibee Foods lost P3.20 to P238.60 while Universal Robina was unchanged at P138.

Monde Nissin went down by a centavo to P8.09 after a huge rise Monday on account of its products being exempted from the upcoming salt tax imposition on salty foods. Bloomberry rose to a high of P11.12 before closing at P10.96, up by 16 centavos.

There were 82 gainers, 84 losers and 55 shares unchanged. Ayala Land rose by 40 centavos with the continued buy-backs, while Ayala Corp lost P5 to P630, Bank of PI and Metrobank respectively went up by P1.20 to P109.10 and 80 centavos to P55.80, while Meralco went up by P5 to P334.

Greenergy lost 8 centavos to P1.28, Emperador went down by 5 centavos to P21.45, SM Prime lost 60 centavos to P33.30, Security Bank was down by 45 centavos to P81.75 as PLDT gained P25 to P1,330 and Aboitiz Power rose by 30 centavos to P37.85.

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