PSE Index Posts Big Loss

The Philippine Stock Exchange (PSE) index posted a significant loss today due to geopolitical concerns.

Photo Insert: The Philippine Stock Exchange (PSE) Index, October 20, 2023

Losing stocks outnumbered gainers threefold, with all sub-indices in the red. Foreign investors sold P704 million more than they bought, resulting in the index closing the day at 6,142.90 points, down by 76.26 points or 1.23 percent.

The mining and oil sector experienced the most substantial decline, with a 6.05 percent drop. Leading miner Semirara Mining faced an 11.4 percent loss, falling to P31.10, a decrease of P4.

NickelAsia declined by 12 centavos to P5.58, Atlas Mining dropped by 2 centavos to P3.32, and Philex Mining lost 4 centavos, closing at P2.96. The sell-off affected most of the blue-chip stocks, with the top 10 most active stocks led by BDO Unibank, which saw P295 million in trades and dropped P1.90 or 1.45 percent to close at P129.40.

The financial sector declined by 1.24 percent, with Metrobank losing 70 centavos, closing at P51.85, Security Bank down by 5 centavos to P77, and PNB down by 10 centavos to P18.60.

Industrials declined by 0.88 percent, holding firms by 0.45 percent, services by 0.89 percent, and property by 2.03 percent.

Property giants SM Prime and Ayala Land saw respective declines of 70 centavos to P30.70 and 85 centavos to P28.65. Notably, Ayala Land had three block sale trades totaling P66 million, with transaction prices ranging from P29.45 to P29.50, while SM Prime had a block sale at P31.4233.

The value turnover amounted to P4 billion, a third lower than the average, while net foreign selling reached P704 million. This was the first time it reached that amount in over a month, with foreign buying of P1.65 billion and foreign selling of P2.355 billion.

There were 44 gainers, 136 losers, and 56 unchanged shares, including DNL at P6.35 and ACEN Corp at P5.08, following its disclosure of a partnership agreement with another company for a renewable energy project.

Market bellwether SM Investments lost P3, closing at P817, ICTSI down by P2.80, closing at P207.20, Converge down by 35 centavos, closing at P9.25, Universal Robina down by 50 centavos, closing at P113.20, and Jollibee Foods down by P5.60, closing at P215.20.

JG Summit was down by 5 centavos, closing at P38, GT Capital, down by P13, closing at P545, Aboitiz Equity, down by a peso, closing at P48.10, Monde Nissin, down by 25 centavos, closing at P8.45, Dito CME down by 27 centavos, closing at P3.42, Manila Water down by 18 centavos, closing at P17.86, and Bloomberry down by 7 centavos, closing at P9.92.

Among the gainers were Ayala Corp., up by P4.50, closing at P615, LT Group, up by 2 centavos, closing at P8.83, Robinsons Land, up by 2 centavos, closing at P14.72, PLDT, up by P11, closing at P1,217, Meralco, up by P3.40, closing at P379, and Petron Corp, up by a centavo, closing at P3.41.

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