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PSE Index Still Down
- By The Financial District
- Jun 2, 2022
- 2 min read
The Philippine Stock Exchange index today posted its third day of decline, but optimism on the market is returning as there was a recovery of the huge loss before the close at 6,686.83, down by just 25.38 points or 0.38 percent.
Photo Insert: The Philippine Stock Exchange (PSE) Index, June 2, 2022
Also lending credence to the incipient optimism on the market are the gains in four sub-indices that together with the clawback of the impending huge loss of the index at 6,653.41 points appeared to temper the pulsating bearish sentiment arising from the Ukraine crisis that has led to a runaway rise in oil prices beyond 100 us dollars a barrel.
Holding firms rose by 0.16 percent, services by 0.54 percent, mining and oil by 1.29 percent and property was up by 0.11 percent while the financials lost 1.92 percent and industrials down by 0.81 percent.
Market bellwether SM Investments gained P6 to P856 on trades of P155 million as investors are now quietly returning to the market though with the 33-point index recovery at the close.
Value turnover, though, was below average at p5.06 billion with 73 gainers, 100 losers, and 53 shares unchanged. The bearish sentiment has been pulsating on a global scale, with the US, Europe, and other markets due to the surge in inflation that has led to increases in the interest rates. ,
Even the Philippines has not been spared with the Bangko Sentral signaling another rate increase as the inflation rate is seen to hit above 5 percent for May.
Only five shares posted gains and three were unchanged including Ayala Corp, which emerged most active with trades of P315 million closing at P700.
The gainers were SM Prime up 10 centavos to p37. 15, Semirara Mining up 70 centavos to p35. 95, DMCI Holdings up 19 centavos to P9.18, Aboitiz Equity up 90 centavos to P52.40, and ICTSI up P5.60 to P215.80. Ayala Land was unchanged at P29.55 and AC energy at P7.
Among the losers were Globe down by P54 to P2,350, Converge down 45 centavos to P25.60, BDO Unibank down P3.80 to P128.10, Bank of PI down P1.70 to P94.10, PLDT down P15 to P1,892, Security Bank down P2.05 to P90.10, Jollibee down 60 centavos to P208, Solar Philippines down 8 centavos P1.75, Monde down 36 centavos to P13.98.
