PSE Index Slightly Down

The Philippine Stock Exchange (PSE) index today declined slightly as investors pocketed their gains as the market heated up by more than 20 points before coming down to earth at 6,877.10, a loss of 20.03 points or 0.29 percent.

Photo Insert: The Philippine Stock Exchange (PSE) Index, September 6, 2021

Gainers were ahead of losers, 95 to 86 as some of the blue-chip stocks did not decline that fast after riding to a new crest. Value turnover, however, was muted at P5.304 billion indicating the continued uncertainty in the market due to the easily transmissible Delta variant and the perceived lack of science from the government in battling the pandemic.

Four of the sub-sectors posted gains but the big losses in holding firms and services of 0.77 percent and 0.34 percent respectively led to the drop in the index. The financials were up 0.46 percent, industrials by 0.02 percent, mining and oil, by 2.15, and property, by 0.03 percent.

The index had hit a high of 6,898.92 points but declined to 6,867.12 points before nosing up at the close.

AC Energy was the most active stock with trades of P4.53 but it ended unchanged at P9.98 after a high of P10.14 and a low of P9.80. The same trading pattern emerged in the other blue chips like second most active stock Converge with trades of P300 million as it closed 40 centavos lower to P31.50, but not after hitting a high of P31.95 and a low of 31.35.

Market bellwether SM Investments was down by P22 to P998 having hit a high of P1,008 and a low of P995, while BDO posted a gain of P1.20 to P117. Globe went up to as high as P2,708 though it closed down lower by P2 to P2,700. Metro Pacific went up by 3 centavos to P3.9,2, its high being P3.93.

Jollibee was up by P5.40 to P206 while PNB was unchanged at P20.45.

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