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PSE Index Hits New Low
- By The Financial District
- Jun 30, 2022
- 2 min read
The Philippine Stock Exchange today hit a new low, down two milestone levels to 6,155.43, a hefty decline of 147.76 points or 2.34 percent after briefly flirting at the opening of the market taking down in its wake another IPO issue.
Photo Insert: The Philippine Stock Exchange (PSE) Index, June 30, 2022
Only six of the top 20 active stocks posted gains as the market nosedived after a brief fling at a high of 6,337.34 points, a 16-point gain from the opening before sellers came out of their sells to deal the index a new blow although there were pockets of gains in certain stocks.
New IPO Balai crashed by 7.14 percent to P0.65 centavos off its IPO price indicating a grim scenario for upcoming IPO issues. It was one of 14 issues that posted losses among the top active stocks where Universal Robina emerged most active with trades of P520 million as it gained P3 or 2.78 percent to P111.
Port operator ICTSI went down by 6.07 percent to P184, a loss of P11.90 on fears of the effects of the Ukraine problem that has affected shipping.
Market bellwether SM Investments mirrored the PSE fall as it went down by P38 or a huge 4.63 percent after hitting a high of P820 while BDO Unibank saw its shares rise immediately after opening to P115.80 until sellers came out leading the bank shares to close at its lowest of P110.50, down 3.32 percent or P3.80.
Value turnover amounted to P6.413 billion, a tad higher than its average with 71 shares up, 117 shares down, and 47 shares unchanged. Industrials and mining and oil posted gains of 0.76 percent and 0.90 percent while the financials lost 2.11 percent, holding firms by 3.42 percent, services by 3.87 percent, and property by 1.12 percent.
The five other gainers in the top 20 were Jollibee, up P1.60 to P293.60, AC Energy up 14 centavos to P8.04, SM Prime up 45 centavos to P36.55, Semirara Mining up 65 centavos to P35 and Meralco up P5 to P360.
Converge lost 65 centavos to P21.15, PLDT by P85 to P1,680, Globe by P12 to P2,268, Ayala Corp by P28 to P600, PhilWeb by 63 centavos to P4.85, Bank of PI by P1.60 to P84.80, and Megaworld by 12 centavos to P2.16.
