PSE INDEX FALLS BELOW 7,000-POINT LEVEL
The Philippine Stock Exchange (PSE) index fell below the 7,000-point level as a sell-down on issues cropped up right after the opening bell with net foreign selling hitting a sizeable P2.2 billion to close at 6,927 points, down by 73.76 points or 1.05 percent.
Value turnover hit P15.49 billion with foreign buying of P7.747 billion and foreign selling of P9.75 billion with ICTSI losing P5 to P116.80, as foreign selling amounted to P210 million, while market bellwether SM Investments survived the foreign selling of P179 million to finish the day P4 higher at P1,025.
Decliners swamped gainers 2 to 1 with 148 shares seeing their price points down and 69 shares up. Forty six issues were unchanged that include market darling MerryMart which finished the day at P5.80 after hitting a high of P6.30 and a low of P5.60. All indices were down with the mining and oil bearing the brunt of the sell-down as it lost 2.76 percent, followed by property with 1.38 percent decline.
Bank of PI was the day’s most active stock trading P1.082 billion as its share price went up by 50 centavos to P88. BDO Unibank and Security Bank, though, posted declines of P1.40 to P106.50 and P3.90 to P121, respectively, while Metrobank, which had foreign selling of P175 million, dropped by P1.30 to P46.75.
Ayala Energy rose by 4 centavos to P6.05, while Ayala Land posted an increase of 25 centavos to P38.00. Food giant Jollibee declined by P2 to P189 while telco stocks PLDT and Globe had differing trading performance. PLDT lost P34 to P1,292, while Globe rose by P14 to P2,014. Converge lost 32 centavos, dropping to P15.78, and Dito went down by 3 centavos to P6.23.