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PSE Index Still Lethargic
- By The Financial District
- May 26, 2023
- 2 min read
The Philippine Stock Exchange (PSE) index today closed lower at 6,530.20 points, down by 30.02 points or 0.48 percent on bargain hunting, but not after dropping below another milestone level.
Photo Insert: The Philippine Stock Exchange (PSE) Index, May 26, 2023
Losing more than 60 points in mid-trade, the index slowly climbed up with market bellwether SM Investments providing optimism as it went up by P4 to P920 on trades of P329 million, behind ICTSI, which emerged the most active with trades of P519 million as it lost P5 to P195.
Ayala Land was the third most active stock with P269 million in trades closing unchanged at P34.
Petron Corp was the biggest gainer with a hefty 10.71 percent rise to P4.65, up by 45 centavos followed by Ionics, which gained 11 centavos to P1.14 for a 10.68 percent gain. The biggest loser was Anchor Land, which declined by a peso to P6.48 for a 13.73 percent loss.
Only the mining and oil sub-index posted a gain of 0.15 percent while financials dropped by 0.89 percent, industrials by 0.06 percent, holding firms by 0.04 percent, services by 1.25 percent, and property by 0.37 percent.
Value turnover remained low at P4.55 billion, with investors a bit quiet as 79 shares went up, 98 shares lost and 37 shares were unchanged.
Analysts see the market in a volatile band and in the case of trading today, it was marked by a loss of more than 60 points before it started to recover. Still, analysts see a further bias toward a downward trajectory.
BDO Unibank was unchanged at P135 while Century Pacific went up by 60 centavos to P23.10, Monde Nissin rose by 26 centavos to P8.76, while AgriNurture rose by 4 centavos to P7.32.
The losers were Ayala Corp, down by P5.50 to P686, Bank of PI, down by P2.50 to P100.50, GT Capital, down by 50 centavos to P500.50, JG Summit, down by P1.40 to P232.60, Jollibee Foods, down by P1.40 to P232.60, PLDT, down by P9 to P1,219, Universal Robina, down by P2.50 to P144.40, Converge, down by 30 centavos to P10.60, and Semirara Mining down by 30 centavos to P28.20.
