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PSE Index Retreats Back Into Red Zone
- By The Financial District
- Aug 10, 2023
- 2 min read
The Philippine Stock Exchange (PSE) index today declined to a lower milestone level on profit-taking, mostly from foreign investors, who again accounted for almost all of the total trades.
Photo Insert: The Philippine Stock Exchange (PSE) Index, August 10, 2023
Trading saw only one gainer among the top 10 most active stocks to close at 6,449.66 points, down by 80,79 points or 1.24 percent.
All the sub-indices posted losses with the financials down by 2,73 percent, holding firms by 1.26 percent, services by 1.43 percent, industrials by 1.38 percent, property by 1.56 percent and mining and oil losing the most at 3.12 percent.
Top nickel producer Nickel Asia went down by a hefty 7.8 percent to P5.26, down by 45 centavos with trades of P94 million, of which P19 million was net foreign selling, while Semirara Mining was unchanged at P29.90.
Only BDO Unibank salvaged a gain from the sell-down in the banking sector with a 10-centavo rise to P142 on trades of P246 million, the third most active stock.
Net foreign selling amounted to p268 million on foreign buying of P1.68 billion and foreign selling of p1.95 billion, with Ayala Land emerging as the most active stock with P309 million in trades as it went down by 10 centavos to P29.30, although net foreign buying amounted to P87 million.
ICTSI was the second most active with trades of P282 million, P23 million of which net foreign selling as it declined by P6.20 to P208.
Total value turnover amounted to P3.6 billion with 57 gainers, 107 losers, and 31 shares unchanged. Market bellwether SM Investments lost P13 to P887 on trades of P181 million, of which P64 million was net foreign selling, Jollibee Foods lost P4 to P249, Metro Pacific went down by one centavo to P4.99, and Universal Robina declined by P1.30 to P123.50.
Bank of PI was unchanged at P115.80 with net foreign buying of P15.8 million out of P140 million in trades, while Monde Nissin continued its slide to P7.56, down by 34 centavos with net foreign selling of P16 million out of trades of P116 million.
