PSE Index Still Sliding

The Philippine Stock Exchange (PSE) index declined further Thursday, aggravated by continuous foreign selling, closing at a milestone low of 6,390.83 points, a loss of 19.24 points or 0.30 percent.

The Philippine Stock Exchange (PSE) Index, June 13, 2024

Market bellwether SM Investments lost 1.42 percent to ₱836, causing a 0.94 percent decline in holding firms.

Financials went down by 0.40 percent, industrials by 0.57 percent, and mining and oil by 1.02 percent. Property rose by 1.04 percent, and services increased by 0.006 percent. Value turnover remained below average at ₱4.9 billion, with 73 gainers, 110 losers, and 48 shares unchanged.

Net foreign selling amounted to ₱245 million, with foreign buying at ₱2.219 billion and foreign selling at ₱2.4 billion.

ICTSI emerged as the most active stock, with ₱863 million in transactions, losing ₱1.20 to close at ₱340.

Other losers included Ayala Corp, Bank of PI, EastWest, PNB, Security Bank, Union Bank, Manila Water, Semirara Mining, First Gen, Emperador, AgriNurture, Monde Nissin, DoubleDragon, Universal Robina, Megawide, ABS-CBN, San Miguel, JG Summit, DITO CME, PAL, Belle Corp, Bloomberry, DigiPlus, Philex Mining, and Nickel Asia.

The gainers were SM Prime, Ayala Land, Petron, Cosco Capital, DMCI Holdings, Robinsons Land, Globe Telecom, Metrobank, PLDT, SPNEC, Century Food, Axelum, Megaworld, GT Capital, Phil Seven, and SSI Group.

Stocks that remained unchanged included BDO Unibank, ACEN Corp, Figaro Coffee, Ginebra, Abacore, Puregold, Shakey's Pizza, Converge, and Roxas and Co.