PSE Index Falls Below Support Level, Ends 2021 In The Red

The Philippine Stock Exchange (PSE) index ended the year falling below its support level with the marked shift noticeable from lower opening trade and after a brief upswing, lost momentum to close at a precarious 7,122.63 points, down by a sizeable 211.93 points or 2.89 percent.

Photo Insert: The Philippine Stock Exchange (PSE) Index, December 31, 2021

Share prices had brief flings at higher opening prices from their Wednesday close but as the abbreviated trade progressed, the sell down went into full gear resulting in 111 losers against 73 gainers and 49 shares unchanged with a value turnover of sub-average of p5. 384 billion.

Market bellwether SM Investments opened at p971 but immediately declined to p940 before nosing up a bit to close at p943, a loss of p28 while PLDT opened at p1,853, hit a high of p1,860 before succumbing to a sell down that saw its price clamber down to a p58 loss to p1,812 on trades of p338 million the second most active stock.

Ayala Land was the day's most active stock and it provided the most optimistic trading rising p1.05 higher to p36.70 on trades of p357 million. Realty firm SM Prime posted losses of p1.60 to p33.90, while Robinsons Land went up by 10 centavos to p19.20.

BDO Unibank and Metrobank respectively closed at p120. 70, down by p6.30 and p55.70, down by p1.30.

All sub-indices were in the red with the holding firms and financials losing 3.54 percent and 3.30 percent respectively. Services were down by 2.32 percent, industrials by 1.50 percent, and property by 1.22 percent. Mining and oil lost 0.33 percent.

ICTSI closed p6 lower to p200 while Jollibee declined by p6.60 to p216.40. AC Energy was shaved by 50 centavos to p11 while Solar Philippines dropped by 3 centavos to p1.25.

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