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PSE Index Shows Weakness
- By The Financial District
- Apr 6, 2022
- 2 min read
The Philippine Stock Exchange index showed weakness today with all sub-sectors in negative territory and value turnover below average as investors remained skittish by the prospects of the economy, although there are still investors making bets on dividend-paying stocks and those with prospects of growth to finish at 7,109.26 points, down by 46.81 points or 0.65 percent.
Photo Insert: The Philippine Stock Exchange (PSE) Index, April 6, 2022
Market bellwether SM Investments slid by P7 to P882, hitting a low of P870 as bargain hunters bought back declining shares.
The sense of hopelessness with the crunch in the economy due to the effects of the Ukraine crisis is evident with investors opting to stay on the sidelines with most-active stock Ayala Land, which went down by 5 centavos to P34.80, mustering just P279 million in trade.
Ayala Corp followed with P263 million as it also lost P15 to P800 and Converge was down by 30 centavos to P29.
Dividend-paying Systems Grid and Holcim went up by identical 8 centavos to P12.30 and P5.60 respectively while Victorias Milling emerged as the top gainer with a 14.81 percent upswing as it closed 36 centavos higher to P2.79.
Only seven shares were gainers in the Top 20 active stocks as value turnover amounted to just P4.97 billion with 79 gainers, 102 losers, and 51 shares unchanged.
Globe and PLDT were up closing respectively at P2,432, up by P12 and P1 840, up by P22.7 Jollibee also rose by P1.80 to P231.60, Bloom by 3 centavos to P6.21, and Semirara Mining, up by 90 centavos to P31.50.
Holding firms posted the biggest loss among the sub-indices with a 1.23 percent decline while financials lost 0.34 percent, services, by 0.52 percent, mining and oil by 0.23 percent, property by 0.26 percent, and industrials by 0.05 percent.
Among the losers were Bank of PI, down by P1.10 to P98.10, ICTSI, down by P4 to P222, AC Energy, by 25 centavos to P8.60, Puregold by 15 centavos to P37.60, and SM Prime by 15 centavos to P37.85.
