PSE Index In Further Decline

The Philippine Stock Exchange (PSE) index today declined further to 6,474.26 points, down by 38.13 points or 0.59 percent.

Photo Insert: The Philippine Stock Exchange (PSE) Index, July 6, 2023

The bearish sentiments are still in full force though it recovered more than 38 points on bargain hunting, the financials being the lone gainer among the sub-indices.

BDO Unibank went down by 70 centavos to P136.90, but the gains in Bank of PI, which went up by 80 centavos to P108.80 and Metrobank, which closed 95 centavos higher to P55.95 nudged the financials to a 0.20 percent advance.

Property giants Ayala Land and SM Prime posted losses respectively of 25 centavos to P24.45 and 90 centavos to P33.75, the property sub-index consequently losing the biggest with a 1.74 percent drop.

Industrials went down by 0.10 percent, holding firms by 0.47 percent, services by 1.01 percent, and mining and oil lost 0.05 percent. Universal Robina was the day's most active with trades of P358 million as it rose by a peso to P139.

Ayala Corp had trades of P339 million as it went down by P15.50 to P614. 50, and third most active was Metro Pacific, which lost 3 centavos to P4.95 on trades of P322 million.

Value turnover was down a third to p3. 99 billion with 73 gainers, 100 losers and 51 shares unchanged. Globe Telecom went up to a recent high of P1,804, an increase of P42 or 2.38 percent, while Monde Nissin rose to P8, up by 17 centavos.

Digiplus interactive gained 23 centavos to P3.91. Emperador and market bellwether SM Investments and JG Summit were unchanged at P20.90, P932, and P46.10, respectively.

The other losers in the top 20 most active issues were Jollibee Foods, down by P1.80 to P241, ICTSI, down by p4. 60 to P198.40, PLDT, down by P25 to P1,305, AboitizPower, down by 5 centavos to P36, and ACEN Corp, down 6 centavos to P5.29.

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