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PSE Index Up Initially, Ends Down
- By The Financial District
- Oct 8, 2021
- 2 min read
The Philippine Stock Exchange (PSE) index today opened 20 points higher from its Thursday close, then ramped up in mid-trade before succumbing to another sell-down at the close to nurse a 44.44 point or 0.64 percent to close at 6,906.86, regaining lost ground after hitting a low of 6,906.36 points.
Photo Insert: The Philippine Stock Exchange (PSE) Index, October 8, 2021
Converge was at the end of the selling mode as it declined by P3.90 to close at P33.60, ending the day as the biggest loser at 10.40 percent on a value turnover of P2.34 billion, the second most active stock.
The most active was Wilcon Depot which profited from its inclusion in the PSE index as it traded P2.774 billion, posting another 95 centavos gain to close at P34.95, while First Gen which was taken out of the index regained P1.40 percent to P29 on trades of P1.064 billion, up by 5.07 percent.
Value turnover was heavy at P25 billion as foreign investors cashed in their gains in stocks that posted big gains like Converge which just had its IPO at P16.80 apiece.
There were however 105 gainers as investors flocked to oversold stocks while there were 83 losers and 46 shares unchanged. The services sub-index was the biggest loser as it went down by 1.82 percent while the holding firms declined by 1.06 percent, property by 0.18 percent, and the industrials by 0.10 percent.
The gainers were financials, up by 1.60 percent as BDO Unibank went up by P5 to P121 and Metrobank, which rose by 95 centavos to P46.50, while the mining and oil sub-index was up by 1.30 percent with top gainers Basic Energy, which went up by 17.65 percent to P0.60, up by P0.09 and Oriental Petroleum which gained P0.001 to P0.012.
Ayala Land was up by 45 centavos to P33.85 while SM Prime lost the same amount to close at P33.25. The other gainers include AC Energy, up 20 centavos to P12.62, Manila Water, up 80 centavos to P23.80.
Among the losers were PLDT, down by P6 to P1,670, market bellwether SM Investments, which lost P14 to P966, and Globe, which declined by P152 to P3,088. Jollibee lost P5 to P205 while Monde went down by 6 centavos to P18.44.
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