PSE Index In Big Decline

The Philippine Stock Exchange index today posted a big decline on the lack of positive developments with the sell-down apparent as only two of the top 20 active stocks posted gains in what is believed to be a market on the way to the doldrums, dropping 116.11 points or 1.66 percent to 6,863.91 points.

Photo Insert: The Philippine Stock Exchange (PSE) Index, April 27, 2022

Converge and Phinma were the gainers with respective closing prices of P29. 70 up by 30 centavos and P19.84, up by 10 centavos.

Market bellwether SM Investments emerged most active with trades of P434 million as it went down by P8 to 851. Ayala Land followed with P409 million in trades as it lost P1.20 to P34, then Ayala Corp, which had a big drop of P28 or 3.43 percent.

Value turnover was 30 percent higher than the average with all the sub-indices posting big losses as losers were four times more than gainers, 138 to 49, with 43 shares unchanged.

Mining and oil was down by 3.78 percent, property by 2.17 percent, holding firms by 2.12 percent, financials by 1.34 percent, services by 1.30 percent, and industrials by 0.73.

Among big losers in the top traded stocks were Ayala REIT, down 6.56 percent to P39.90, a loss of P2.80, Solar Philippines, down by 8.24 percent to P1.56, a loss of 14 centavos, Semirara Mining down by 3.71 percent to P27.25, a loss of P1.05, JG Summit down 3.9 percent to P56.50, a loss of P2.30, Globe down 4.007 percent to P2,348, a loss of P98, Metrobank down by 2.30 percent to P53, a loss of P1.10, and GT Capital down by 2.40 percent to P508.50, a loss of P12.50.

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