PSE Index Down Some More

The Philippine Stock Exchange (PSE) index went into a volatile run, down at market recess and then up later before declining at the close on renewed selling to close below another milestone level of 6,791.24 points, lower by 49.52 points or 0.70 percent.

Photo Insert: The Philippine Stock Exchange (PSE) Index, February 14, 2023

Investors displayed their picky nature, buying into two companies that got hefty investments from the latest Japan trip of President Marcos, Jr.; Metro Pacific, which emerged most active with trades of P723 million closing at P4.55, up by 15 centavos or 3.41 percent and Aboitiz Power which went up by P1.30 to P39.80, up by 3.38 percent.

Metro Pacific is getting $600 million in investments from Mitsui while Aboitiz Power will have a partnership with JERA for its renewable energy business.

Market bellwether SM Investments was the second most active with trades of P555 million as it went down by P10 to P885 and then followed by BDO Unibank with trades of P486 million as it lost 90 centavos to P125.50.

Value turnover amounted to P7.37 billion, P1.37 billion higher than average with losers ahead of gainers 103 to 64 with 43 shares unchanged. Ayala Corp and PLDT were both unchanged at P680 and P1,326, respectively.

Financials went down by 0.52 percent, industrials by 0.16 percent, holding firms by 0.70 percent, services by 0.33 percent, mining and oil by 0.28 percent, and property by 0.93 percent.

There were five other gainers aside from that of Metro and Aboitiz, namely Metrobank which rose by 55 centavos to P61.95, Meralco up by P4 to P312, Bloomberry Resorts, up by 38 centavos to P10, Jollibee Foods up by P1.20 to P241, and Ayala Land, up 10 centavos to P28.70.

The losers in the Top 20 most active stocks were Globe Telecom, down P10 to P1,990, GT Capital, down P10 to P540, SM Prime, down 70 centavos to P37, Figaro Coffee, down 12 centavos to P0.87, Aboitiz Equity, down P1.65 to P54.55, ACEN Corp. down 15 centavos to P6.95, Bank of PI, down P1.70 to P104.30, and Solar Philippines down 6 centavos to P1.56.

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