PSE Index Trips A Bit

By The Financial District
Nov 27, 2024
2 min read

The Philippine Stock Exchange (PSE) closed slightly lower but remained within its milestone level, as foreign investors continued to be net sellers.

The Philippine Stock Exchange (PSE) Index, November 26, 2024

Eventually, the index ended at its lowest point of 6,806.86, down 43.14 points or 0.63 percent.

Only the financial sector managed to post a gain, edging up by 0.54 points. Bank of the Philippine Islands (BPI) rose by ₱1.90 to ₱133, while BDO Unibank increased by ₱1.20 to ₱152.90.

Market bellwether SM Investments advanced by ₱19 to ₱901, gaining 2.15 percent on trades worth ₱133 million.

Total value turnover amounted to ₱4.59 billion, with 82 stocks advancing, 110 declining, and 43 unchanged.

The services sector posted the largest decline, dropping 2.68 percent. Top-traded International Container Terminal Services Inc. (ICTSI) fell sharply by 6.02 percent to ₱390, a decrease of ₱25.

The industrial sector slipped 0.30 percent, holding firms edged lower by 0.03 percent, mining and oil declined 0.87 percent, and the property sector dipped 0.14 percent.

There was net foreign selling of ₱556 million, with foreign buying amounting to ₱2.045 billion and foreign selling at ₱2.602 billion. Many stocks saw minimal trades, while some remained untouched.

Among the gainers were PLDT, China Bank, CEMEX Holdings, Prime Media, PNB, First Gen, Petron, Semirara Mining, Century Pacific Food, D&L Industries, Monde Nissin, Figaro Coffee, Greenergy, Cosco Capital, Alliance Global, Asian Terminals, Philippine Seven Corporation, Puregold, Fruitas, Cebu Air, and PAL Holdings.

Meanwhile, stocks that declined included Ayala Corporation, Ayala Land, SM Prime, Aboitiz Equity Ventures, Vantage Equities, DITO CME, Security Bank, Union Bank, Meralco, and Manila Water.

Jollibee Foods, Apex Mining, Nickel Asia, Philex Mining, OceanaGold, GT Capital, DoubleDragon, Boulevard Holdings, and Bloomberry Resorts also fell. Unchanged stocks included JG Summit, Alternergy, San Miguel Corporation, DigiPlus, Globe Telecom, ABS-CBN, and Atlas Mining.