PSE Index Still In The Red

The Philippine Stock Exchange (PSE) index today declined anew though there was a flicker of hope as, for a while, it rose above its support level but went down as sellers ruled the market.

Photo Insert: The Philippine Stock Exchange (PSE) Index, February 23, 2023

With just industrials and services up respectively by 0.22 percent and 0.42 percent, the index lost 13.33 points or 0.20 percent to 6,685.90 points but hit a high of 6,704.91 points, almost 5 points above the support level but plunged to as low as 6,666.72 points before recovering lost ground.

Financials went down by 0.59 percent, holding firms, down by 0.20 percent, mining and oil, down by 0.47 percent, and property went down by 0.75 percent. Value turnover remained low at p4. 34 million with 85 gainers, 90 declines, and 39 shares unchanged.

Globe Telecom was the most active stock with trades of P372.8 million as it went down by P19 to P1,920, followed by Ayala Land with trades of P321 million as it closed 15 centavos lower to P28.05.

Metrobank was third most active with P318 million as it went down by P1.30 to P58.90.

Among the gainers were ACEN Corp, up 12 centavos to P6.79, Meralco, up 20 centavos to P309.20, market bellwether SM Investments, up P10 to P900, Universal Robina, up P2.50 to P141, ICTSI up P2 to P209.80, PLDT, up P6 to P1,341, and Converge up 16 centavos to P16.44.

The losers were Bank of PI, which went down 90 centavos to P103.10, SM Prime declined 35 centavos to P36.35, Ayala Corp, down P10 to P650, Metro Pacific, down 13 centavos to P4.05, Megaworld, down 6 centavos to P2.06, Jollibee Foods, down P2 to P28, Robinsons Land, down 20 centavos to P15.20, JG Summit, down P1.80 to P52.20, and GT Capital down P11 to P502.

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