PSE Index In Big Decline

The Philippine Stock Exchange (PSE) index today posted a big decline on profit-taking in another volatile market with the index rising above Wednesday's close and sliding before nosing a bit to 6,055.99 points, down by 92.32 points or 1.50 percent.

Photo Insert: The Philippine Stock Exchange (PSE) Index, October 20, 2022

Only the Financials survived the market decline, rising by 0.24 percent as investors took their profits when the shares went up further

Industrials lost 2.59 percent, holding firms by 2.57 percent, mining and oil by 0.87 percent, property by 0.68 percent, and services by 0.67 percent. Value turnover was 30 percent higher at p8. 23 billion with 58 gainers, 107 losers, and 51 shares unchanged.

The top three active stocks saw their share prices rise from their Wednesday close before dropping in big numbers as investors pocketed their gains. Ayala Land, which had P755 million in trades saw its share price go up to P26.30 then drop to P25.45 before closing at P25.70,10 centavos lower.

Market bellwether SM Investments, which had p548 million in trades, went up to a high of P817 and slid to a low of P770. 50 before closing at P777 for a loss of P22.

SM Prime went up to P33.85, declined to a low of P33.25, and closed at P33.70, unchanged from its Wednesday close. Converge was also unchanged at P12.50 while Bank of PI went up by 1.40 to P93.40, and Metrobank rose by 30 centavos to P51.30.

Other shares that went up were Globe Telecom, up by P78 to P2,478, ICTSI, up P1.60 to P175, Bloomberry Resorts, up 5 centavos to P6.83, and DM Consunji up 20 centavos to P10.50.

Among the losers were Semirara Mining, down a peso to P40.85, PLDT, down P59 to P1,531, LT Group, down 43 centavos to P7.70, Ayala Corp, down P3.50 to P649.50, Robinsons Land, down P1.10 to P15.20, Meralco, down P16 to P280, Jollibee Foods, down P4.60 to P230.40, Metro Pacific, down 11 centavos to P3.50, and Security Bank, down P3.60 to P79.90.

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