PSE Index In Big Drop

The Philippine Stock Exchange (PSE) index posted a big drop today, going down below its support level as investors sold their positions with five of the six sub-indices in negative territory to close 72.42 points lower or 1.002 percent to 7,157.73 points.

Photo Insert: The Philippine Stock Exchange (PSE) Index, October 28, 2021

Property stocks SM Prime and Ayala Land were down by P1.30 to P33.70 and 45 centavos to P35.65 respectively to erase 2.66 percent off the index. SM Prime was the most active stock with P834 million while Ayala Land had P439 million in trades, the third most active.

ICTSI emerged second most active with trades of P572 million as it went up by P6 to P189 inducing the service sub-index to a lone gainer at 1.05 percent while market bellwether SM Investments went down by P36 to P992.

Mining and oil topped the losing indices with a 3.56 percent decline while financials lost 1.05 percent, industrials by 0.63 percent, holding firms by 1.26 percent. Value turnover amounted to P7.161 billion with 85 gainers, 121 losers, and 41 shares unchanged.

The biggest gainer was Concrete Aggregates, which rose by 31.009 percent to P62.95, up by P14.90 as investors opted to buy into second liners.

Semirara Mining was down by P2 to P26.05 while DMCI Holdings lost 53 centavos to P8.22. AC Energy was up by 20 centavos to P12.30 while Jollibee Foods declined by P3 to P241.20. Megaworld REIT was up by 12 centavos to P18.02 while Globe lost P50 to P2,972.

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