PSE Index In Huge Downswing

The Philippine Stock Exchange (PSE) index posted a big decline today with all sub-indices in negative territory closing 103.03 points or 1.44 percent down to 7,043.68 points.

Photo Insert: The Philippine Stock Exchange (PSE) Index, October 29, 2021

Most of the blue chips were down with just three shares up of the Top 20 active stocks as investors opted to play safe with the three-day holiday.

Services, property, and holding sectors were in huge downswings with respective postings of minus 1.94 percent, 1.46 percent, and 1.30 percent. The financials lost 1.13 percent, industrials 0.42 percent, and mining and oil, 0.09 percent.

Market bellwether SM Investments was the second most active stock with p508 million as it lost p27 to p966, while SM Prime was the most active as it declined by 60 centavos to p33.10 with trades of p639 million.

Only Globe, up by p24 to P2,996, Ayala Corp, up by p13 to p863, and Megaworld REIT, up by 8 centavos to p18.10, survived the sell down that saw 107 losers against 84 gainers, and 45 shares unchanged.

Value turnover was above average at p7.701 billion in trading that saw the index go down to a low of 7,043.68 points after opening at 7,159 points and hitting a high of 7,182 points.

Bright Kindle was the top gainer with a 27.86 percent increase or 39 centavos to p1.79, while Primex Corp was the top loser with a 12.38 percent drop to p1.84.

Ayala Land went down by 55 centavos to p35.10 while BDO Unibank was shaved by p2.90 to p124.10. Jollibee lost p6 to p235.20 while PLDT declined by p52 to P1,642. Monde was also down 30 centavos to p16.10 while ICTSI lost p9 to p180.

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