PSE Index In Big Decline

The Philippine Stock Exchange today posted a big decline on foreign selling, with most of the blue chips closing lower on renewed worries on the Russia-Ukraine war lingering and affecting the global economy, to end the day with a 114.82-point loss to 7,007.63 points, down 1.61 percent.

Photo Insert: The Philippine Stock Exchange (PSE) Index, March 18, 2022

Much of the selling happened at the last canto after the index was down just fractionally at 7,110.92 points or a loss of 11.53 points during the market recess.

But after the resumption of trading, all hell broke loose with market bellwether SM Investments emerging the most active with trades of P11.24 billion as it closed P3.50 lower to P902.50, followed by PLDT which went down by P7 to P1,686, P7 lower on trades of P1.315 billion.

Save for the mining and oil sub-index, all other counters were in the red, with the financials losing the most, by 2.54 percent as BDO Unibank lost P5.20 to P127.80, Bank of PI by P2.10 to P97.80, and Metrobank by P1.40 to P52.80.

Industrials declined by 2.03 percent, holding firms by 1.42 percent, services by 1.16 percent, and property by 0.21 percent. The mining and oil sub-index rose by 5.72 percent as Semirara gained by P2.05 to P31.25.

Total trades amounted to P27.58 billion with 87 gainers, 100 losers, and 49 shares unchanged, one being ICTSI, which closed at P224.80 on trades of P977 million.

Ayala REIT and Robinson's REIT posted respective gains of 50 centavos to P46.25 and 2 centavos to P7.18 with huge trades of P1.07 billion and P1.02 billion.

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