PSE Index Plummets

The Philippine Stock Exchange (PSE) index today plummeted, closing at its lowest point, a signal of bearish sentiments, all sub-indices in the red as it dropped to a new milestone level of 6,379.03 points, down by 95.23 points or 1.47 percent.

Photo Insert: The Philippine Stock Exchange (PSE) Index, July 7, 2023

Market bellwether SM Investments went down by 2.31 to P919.50, a loss of P21.50 as it emerged as the most active stock with P310.8.

Property giants SM Prime and Ayala Corp were the second and third most active as they respectively went down by 85 centavos to P31.90 and P9.50 to P605. Only four shares posted gains with one unchanged.

The gainers were Metro Pacific, up by a centavo to P4.96, Globe Telecom, up P6 to P1,810, Emperador, up by 5 centavos to P20.95, and Monde Nissin, up by 20 centavos to P8.20. ICTSI was unchanged at P198.40.

Financials went down by 1.37 percent, industrial by 0.49 percent, holding firms by 1.93, services by 0.28 percent, mining and oil down by 0.26 percent, and property sank by 1.93 percent.

Value turnover amounted to P3 billion half of average trade with 122 losers, double that of gainers at 61 with 41 shares unchanged.

Among the losers were BDO Unibank, down by a peso to P135.90, Aboitiz Power, down by 40 centavos to P35.60, Ayala Land, down by 45 centavos to P24, Bank of PI, down by P2.90 to P105.90, Greenergy Holdings, down by 22 centavos to P0.68, PLDT, down by P5 to P1,300, and Universal Robina, down by P1.50 to P137.50.

The other stocks that sank were Bloombery, down by 14 centavos to P10.82, JG Summit, down by P1.15 to P44.95, Semirara Mining, down by 15 centavos to P27.90, Jollibee Foods down by 80 centavos to P240.20, and Metrobank down by P1.25 to P54.70.

WEEKLY FEATURE : MVP Group Keeps Lights On During Pandemic