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  • Writer's pictureBy The Financial District

PSE Index Retreats

The Philippine Stock Exchange (PSE) index today retreated on profit-taking after briefly touching a high 150 points above its close of 6,600.74 points, down by 84.92 points or 1.27 percent, with selected stocks posting big gains until investors cashed in midway before the end of trading.

Photo Insert: The Philippine Stock Exchange (PSE) Index, May 8, 2023

Market bellwether SM Investments went up to as high as P935 but ended P5 down to P920 while Universal Robina touched a high of P156.60 before closing down at P150.80, still up by P2.50.

Monde Nissin rose up to P10.36 before closing down to P9.85, down by 35 centavos, while Globe Telecom ended flat at P1,710 though it hit a high of P1,740.

All the sub-indices were in the red with property declining the most, down by 2.88 percent followed by services which lost 1.31 percent, then financials, which went down by 1.13 percent.

Industrials dropped by 0.27 percent, holding firms by 0.56 percent, and mining and oil by 1.07 percent. Value turnover stood at P5.87 billion with 86 gainers, 92 losers, and 58 shares unchanged.

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

BDO Unibank emerged as the most active stock as it bucked the trend closing unchanged at P137 with P383 million in trades, while Universal Robina traded P352 million, posting P2.50 up at the close to P150.80.

Ayala Land was third most active with P335 million as it lost big with a 4.78 percent decline to P26.90, lower by P1.35.

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 Ayala Corp, up by P9.50 to P659.50, Converge, up by 20 centavos to P11.90, Metro Pacific, up by a centavo to P4.43, and AgriNurture, up by 7 centavos to P7.50. Metrobank was unchanged at P60.30.

The losers were SM Prime, which was down by a peso to P33.30, PLDT, down by P50 to P1,200, Bank of PI, down by P2.90 to P105.10, JG Summit, down by P50 to P49.90, ACEN Corp, down by 10 centavos to P6.07, Jollibee Foods, down by a peso to P225, GT Capital, down by a peso to P479, and Century Food, down by 40 centavos to P26.

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