PSE Index Fractionally Down

The Philippine Stock Exchange (PSE) index today declined fractionally to 6,677.92 points, a loss of 1.21 points or 0.02 percent in trading that saw local investors accounting for just 10.52 percent of total trades - an indicator of the investment malaise over the market while foreign investors appear gung-ho for selected blue chips even with the rise in rates by the US Fed.

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

Foreign buying amounted to P2.06 billion against foreign selling of P1.42 billion for a P638 million net foreign buying that saw the top three most active stocks, SM Prime, BDO Unibank, and Ayala Land, posting respective net buying of P485 million against P579 million total trades, P72 million against total trades of P303 million and P81 million against trades of P246 million.

As a result, SM Prime rose by 40 centavos to P34, BDO by 50 centavos to P148.70 and ALI by 45 centavos to P27.45.

Security Bank, in contrast, lost 15 centavos to P82.75 as foreign selling amounted to P6.46 million out of total trades of P8.12 million, while Bank of PI had foreign selling of P14.5 million out of total trades of P90.1 million, resulting in a P1.50 loss to P116.

Metrobank had foreign buying of P41 million of its P67 million in trades that resulted in a 30 centavo gain to its shares to close at P59.30.

Financials went down by 0.19 percent, holding firms by 0.94 percent, and mining and oil declined by 0.40 percent while services went up by 1.12 percent, industrials by 0.08 percent, and property by 1 percent.

Total trades amounted to P3.8 billion with 89 gainers, 73 losers, and 57 shares unchanged.

ICTSI rose by P6 to P213 while market bellwether SM Investments declined by P15.50 to P922 and Ayala Corp, lost P12.50 to P630.50, and Jollibee Foods saw a slump of 20 centavos to P259.

Metro Pacific and new IPO Repower were unchanged at P4.85 and P5.

Globe Telecom and PLDT respectively gained by P16 to P1,937 and P3 to P1,338, while Aboitiz Power went up by 10 centavos to P36.80, Puregold, by 10 centavos to P29.90, Meralco, by P2 to P352, GT Capital, by 50 centavos to P540.50 and Robinsons Land, by 6 centavos to P14.78.

Among the losers were Semirara Mining down by 5 centavos to P29.45, NickelAsia, down by 12 centavos to P6.13, Atlas Mining, down 1 centavo to P3.70 while JG Summit was another stock ending the day unchanged at P44.70.

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