PSE INDEX PLUMMETS

The Philippine Stock Exchange (PSE) index today plummeted below another milestone level as it got spooked by the continued surge in COVID-19 cases that threatens to close the economy with a hefty decline of 2.94 percent or 194.75 points to 6,436.10 points.

Today's close was its lowest indicating the breadth of selling pressure as the government response to the resurgence led investors to sell down showing in the drop in all sub-indices with the property sub-sector worst hit with a loss of 4.48 percent.

Market bellwether SM Investments was the day's most active stock with P1.2 billion in trades as it capitulated to selling pressure losing P28.50 or 2.89 percent to P958.00. The second most active stock was PLDT, which lost a big 7.36 percent to close at P1,195, down by P95 on transactions of P707 million.

Property firms SM Prime and Ayala Land respectively lost P2.05 to P34.25 and P1.50 to P34.50, to push down the property sub-sector by 4.48 percent.

Out of the Top Ten active stocks, only Ayala Energy survived the selldown as it rose by 8 centavos to P7.06. Dito CME also declined by 52 centavos to P10 while Ayala Corp lost P15.50 to P739.50.

BDO Unibank went down by P4 to P102, while Bank of PI declined by P1.95 to P84 to push down the financials by 2.63 percent. Food giant Jollibee Foods lost P9.60, down 5.17 percent to close at P176.

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