PSE Index Still Waning

The Philippine Stock Exchange (PSE) continues to show weakness, with share prices declining due to sell-offs as investors remain cautious amid geopolitical concerns that have raised the possibility of higher oil prices.

Photo Insert: The Philippine Stock Exchange (PSE) Index, October 18, 2023

The local market closed 12.63 points down, representing a 0.20 percent decrease, ending at 6,268.27 points.

In this scenario, only the financials and industrials posted gains, rising by 0.11 percent and 1.01 percent, respectively. In contrast, holding firms fell by 0.54 percent, services by 0.48 percent, mining and oil by 0.70 percent, and property by 0.77 percent.

The slight rise in the financials sector was partially due to losses by major banks, including BDO Unibank, which dropped by 90 centavos to P134.40, and Bank of PI, which declined by 30 centavos to P107.50.

Metrobank, on the other hand, saw an increase of P1.55, representing a 2.96 percent rise to P53.95. Security Bank gained P1.90, reaching P80, and PNB saw a 6-centavo increase, closing at P18.76.

Puregold, which had a strong performance the previous day, lost 15 centavos, ending at P29.45, as it became the most active stock with P617 million in trading, mostly due to profit-taking.

DM Consunji was the second most active stock, with P416 million in trading, entering the Top 10 traded shares for the first time in nearly a year, despite a decrease of 24 centavos or 2.28 percent, closing at P10.30. ICTSI was the third most active stock, losing 80 centavos to reach P214.20.

Foreign selling amounted to P3.608 billion, while foreign buying reached P3.57 billion, resulting in a net foreign selling of P32.5 million.

Total value turnover reached P5.11 billion, with 73 gainers, 92 losers, and 61 shares remaining unchanged. Market bellwether SM Investments lost P4.50, closing at P812.50, while Aboitiz Equity dropped by 25 centavos to P49.50.

GT Capital remained unchanged at P564, as did Ayala Corp at P620, and Alliance Global at P11.80. JG Summit saw a loss of 60 centavos, closing at P38.40.

Among the gainers were Ayala Land, which saw an increase of 45 centavos, closing at P29.75, Aboitiz Power, which gained 10 centavos, reaching P36.95, Globe Telecom, which saw a P7 increase, reaching P1,799, Monde Nissin, which gained 47 centavos, closing at P8.80, Philex Mining, which increased by 6 centavos, closing at P2.97, and Meralco, which gained P8.60, closing at P388.60.

Jollibee Foods was also in the green, increasing by P5, closing at P224, Semirara Mining gained 5 centavos, closing at P35.15, and Philex saw an increase of 6 centavos, closed at P2.97.

The losers included Robinsons Land, which saw a decrease of 32 centavos, closing at P14.64, SM Prime, which lost 65 centavos, closing at P31.20, Universal Robina, which lost P1.90, closing at P113, Nickel Asia, which lost 21 centavos, closing at P5.73, and Bloomberry, which lost 24 centavos, closing at P10.02.

Closing out the list of stocks in the red were ACEN Corp, which lost 7 centavos, closing at P5.19, Wilcon Depot, which lost 5 centavos, closing at P22.40, and PLDT, which lost P4, closing at P1,226.

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