PSE Index Tumbles

The Philippine Stock Exchange (PSE) index tumbled today on a sell-off in market bellwether SM Investments, closing at 6,807.82 points, down by 42.34 points or 0.62 percent.

The Philippine Stock Exchange (PSE) Index, February 12, 2024

Only the services sub-index posted a gain, up by 0.43 percent, as the selling spree just before the market recess started when foreign investors sold their positions.

SM Investments opened at ₱920 and immediately raced to ₱925.50.

However, the unloading began, weighing down the stock to a low of ₱898.50 before closing at ₱900, down by ₱15 on trades of ₱324 million, making it the third most active.

Financials lost 0.46 percent, industrial by 1.07 percent, holding firms by 0.52 percent, mining by 0.77 percent, and property by 1.29 percent. Value turnover amounted to ₱4.19 billion with 81 gainers, 106 losers, and 51 shares unchanged.

Foreign buying amounted to ₱1.927 billion while foreign selling reached ₱1.471 billion for net foreign buys of ₱455 million.

Bank of the Philippine Islands (BPI) and ICTSI led gainers with respective trades of ₱753 million and ₱339 million.

Other gainers were Union Bank, PNB, LT Group, San Miguel, DoubleDragon, Alternergy, Dito CME, First Gen, DM Consunji Holdings, Bloomberry, Puregold, Atlas Mining, ABS-CBN, and GMA 7.

The losers included Security Bank, Metrobank, BDO Unibank, ACEN Corp, Basic Energy, Aboitiz Power, SPNEC, Megawide, Petron, Meralco, Semirara Mining, Synergy Grid, Universal Robina, Cemex, Ayala Land, SM Prime, Globe Telecom, Cebu Air, PAL Holdings, and PLDT.

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