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  • Writer's pictureBy The Financial District

PSE Index Remains In The Red

The Philippine Stock Exchange (PSE) index today declined for the third straight trading day and, much like in the week's previous sessions, scoured a new depth.

Photo Insert: The Philippine Stock Exchange (PSE) Index, April 13, 2023

Following foreign sell-downs, trading hit below milestone level but recovered at the close to post a 20.55 point or 0.32 percent loss to 6,448.87 points.

Foreign selling hit Ayala Land, which emerged as the most active stock with P1.006 billion in trades, closing 60 centavos down to P26.45, a loss of just 2.22 percent although it hit a new low of P25.40 before the entry of government financial institutions stopped the slide and recovered somewhat that allowed local investors to breathe a sigh of relief as the index hit a low of 6,394.10 points.

SM Prime was the third most active stock with trades of P366 million though it managed to close unchanged at P32.85 but not after hitting a low of P32.35 while BDO Unibank was the second most active stock with P371 million closing the day at P131, up by 80 centavos.

Market bellwether SM Investments declined by P6 to P884, down by 0.67 percent on trades of P193 million.

All the news: Business man in suit and tie smiling and reading a newspaper near the financial district.

Only the services sub-index posted a gain, up by 0.17 percent as PLDT went up by P20 to P1,280 to offset the loss of P18 by Globe Telecom which closed at P1,780 while ICTSI was unchanged at P211.

Holding firms lost 0.39 percent, financials by 0.008 percent, industrials by 0.39 percent, mining and oil by 0.35 percent and property by 0.94 percent. Total value turnover was below average at P5.3 billion with 65 gainers, 124 losers, and 44 shares unchanged.

Market & economy: Market economist in suit and tie reading reports and analysing charts in the office located in the financial district.

Among the gainers were Jollibee Foods, up by 60 centavos to P212.80, GT Capital, up by P9.20 to P494.20, Meralco, up by a peso to P319, Metro Pacific, up by 9 centavos to P3.86, Bloomberry Resorts, up by 9 centavos to P9.20, NickelAsia, up by 30 centavos to P6.80, and AgriNurture up by 12 centavos to P7.03.

The losers were Robinsons Land, down by 54 centavos to P14.20, Ayala Corp, down P6.50 to P641.50, Megaworld, down 2 centavos to P2, Semirara Mining, down 70 centavos to P28.60, Monde Nissin, down 19 centavos to P9.26, and Bank of PI down 60 centavos to P100.90.

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