PSE Index In Big Decline

The Philippine Stock Exchange (PSE) index today posted a big decline, down by two milestone levels to 6,554.08 points, a loss of 155.52 points or 2.32 percent.

Photo Insert: The Philippine Stock Exchange (PSE) Index, September 7, 2022

All sub-indices declined heavily with the holding firms down the biggest with a 3.18 percent drop followed by the financials, down by 2.38, and mining and oil by 2.29 percent.

Industrials lost 0.95 percent, services by 1.46 percent, and property by 1.72 percent. Foreign investors are unloading their shares with the decline in the peso's value vis-à-vis the dollar, which means that their dollar proceeds have declined correspondingly.

Value turnover remained the same, down by a third to P4.85 billion with 59 gainers, 115 losers, and 50 shares unchanged.

San Miguel was the second most traded with transactions of P304 million as it lost a peso to P97 while Abacore holdings was the most active with another rise of 6 centavos to P2.66, up by 3.10 percent with trades of P538 million. The other gainer among the Top 20 stocks was Universal Robina, which went up by P1.50 to P125.10.

All the others were down with market bellwether SM Investments down by a huge 4.10 percent or P36 to P841.

The losers included ACEN, down 27 centavos to P7.03, Ayala Land, down P1.35 to P28.55, Jollibee Foods, down P3.20 to P245.40, BDO Unibank, down P3.80 to P124.20, ICTSI, down by 40 centavos to P181.60, PLDT, down by P40 to P1,697, Converge, down 32 centavos to P17.30, Globe, down P22 to P2,146, Emperador, down 35 centavos P20.35, Ayala Corp, down P16 to P705, JG Summit, down P2.50 to P50.50, Megaworld REIT, down 26 centavos to P15.14, Bank of PI, down P2.40 to P95, and Robinsons REIT, down 3 centavos to P6.10.

SM Prime was unchanged at P36.15.

WEEKLY FEATURE : MVP Group Keeps Lights On During Pandemic