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PSE Index Down Some More
- By The Financial District
- Sep 16, 2022
- 2 min read
The Philippine Stock Exchange (PSE) index today declined anew with a big sell-down, losing 26.20 points or 0.47 percent to 6,548.77 points with investors unloading blue chips in huge amounts.
Photo Insert: The Philippine Stock Exchange (PSE) Index, September 16, 2022
Property giant SM Prime emerged as the most active stock with P3.31 billion in trades as it lost 2.05 percent or 75 centavos to P35.75 while another property firm Ayala Land went down by 5 centavos to P28.55 on trades of P478 million.
Emperador declined by 66 centavos to P19.90 with P3.16 billion in trades while Ayala Corp went down by P16.50 to P731. 50 on trades of P1.39 billion.
Monde lost a hefty 4.41 percent or 64 centavos to P13.86 on trades of P903 million while BDO Unibank went down by P2.10 to P{120.40 on trades of P702 million.
Market analysts said that there is big selling in blue chips as the projected hike in the US fed rate is seen with the rise in rent rates that upped the core inflation rate in the US. Funds are seen to take out their investments as the dollar value of their shares is whittled down.
San Miguel Food and Beverage lost 8.86 percent, a huge number as it closed at P42.70, down by P4.15 on trades of P557 million, while its parent firm San Miguel declined by P3 or 3.06 percent to P95.
Market bellwether SM Investments rose by P21 to P871 while Converge gained 12 centavos to P17.30. ICTSI went down by P3 to P182, but the rise in Converge accounted for the rise in the services sub-index which gained 0.49 percent. The other gainer was holdings, which posted a 0.33 percent rise.
PLDT and Jollibee Foods rose respectively by P98 to P1,750 and by P2.60 to P250 while Bank of PI was unchanged at P97, and Metro Pacific was also unchanged at P3.73. Financials lost 0.21 percent, industrials by 1.38 percent, mining and oil by 1.67 percent, and property by 1.40.percent.
Value turnover amounted to almost three times the average at P15.09 billion with 68 gainers, 112 losers, and 46 shares unchanged. Among the losers were JG Summit down P1.05 to P49.05, Puregold down P1.60 to P31.35, Nickel Asia down 24 centavos to P5.51, and Universal Robina down P1.70 to P121.80.
