PSE Index In Slight Decline

The Philippine Stock Exchange (PSE) index declined slightly today with a lack of impetus as investors adopted a wait-and-see attitude closing at 6,623.23 points, down by 9.34 points or 0.14 percent.

Photo Insert: The Philippine Stock Exchange (PSE) Index, August 10, 2021

Three of the sub-indices were down and the other three were up as the market tried to get a bearing on the economic news with the industrials up 0.07 percent, holding firms by 0.06 percent, and mining and oil up by 2.15 percent. The financials lost 0.28 percent, services by 0.38 percent, and property by 0.51 percent.

Converge and Ayala Energy were the most active stocks, benefitting from their expected inclusion in the PSE index with trades of P819 million and P655 million respectively though profit-takers cashed in their gains.

Converge was down by 30 centavos to P26.85 and ACEN also by 30 centavos to P9.07. But they hit highs of P28 for Converge and P9.30 for Ayala Energy. Monde Nissin, which is also one of the stocks to be included by Aug 16, gained 14 centavos to P16.92 with trades of all P539 million.

Value turnover amounted to P6.3 billion with 94 gainers, 88 losers, and 54 shares unchanged. Market players said that the index will play between the 6,500 and 6,700 range as there is still the continued uncertainty over the COVID-19.

Emperador and DMCI Holdings had different closings, with the former down by 22 centavos to P12.88 and the latter up by 22 centavos too to P5.70. Both will be taken out of the PSE index.

WEEKLY FEATURE : PAL READY TO SOAR WITH PANDEMIC