PSE Index Slides Some More

The Philippine Stock Exchange (PSE) index slid some more today with a lack of buying support and higher net foreign selling to close at 6,942.99 points, down by 18.01 points or 0.26 percent.

Net foreign selling amounted to P838 million on foreign buying of P1.672 billion and foreign selling of P2.51 billion with a value turnover of P5.04 billion with 82 shares posting gains, 119 with losses, and 50 shares unchanged.

Ayala Land was the day's most active stock with trades of P372 million, of which P142 million represented foreign selling as it lost 25 centavos to P36.10. There was also a block sale of the property issue involving P449 million worth of shares. Another property firm, SM Prime also posted a 20 centavo loss to P36.60.

The services sub-sector and that of the mining and oil posted gains with respective finishes of plus 0.53 percent and 0.67 percent.

Bloomberry nudged up the services with a gain of 42 centavos to P6.91. Monde Nissin also advanced by 50 centavos to P16.70, while Megaworld added 3 centavos to close at P3.24.

All the telcos went up. with Globe up by P38 to P1,970, PLDT, up by P3 to P1,307, Converge, by 20 centavos to P22.60, and Dito CME by 6 centavos to P8.94. Market bellwether SM Investments lost P2 to P1,010, while Ayala Energy went down by 6 centavos to P8.61.

The financials were shaved by 0.49 percent as BDO Unibank dropped by 30 centavos to P114.20, Bank of PI by P1.50 to P87, and Security Bank by 20 centavos to P119. Metrobank, however, rose by 55 centavos to P48.90. The other losing sub-sectors were industrials, down by 0.51 percent, holding firms, by 0.13 percent, and property by 0.50 percent.

WEEKLY FEATURE : PAL READY TO SOAR WITH PANDEMIC