PSEi slips, mirroring regional sentiment

The benchmark Philippine Stock Exchange index (PSEi) took a pause yesterday, borrowing cues from the rest of the region and after gaining more than 1 percent over the week.

The PSEi was down 0.05 percent, or 4.16 points to 7,867.49 while the broader All Shares index was also lower by 0.08 percent to 4,689.88.

The movement mirrored sentiments across the region, which was partly reacting to the Organization of Petroleum Exporting Countries’ decision to extend existing supply curbs.

Data from the PSE showed that a total of 1.75 billion shares, valued at P8 billon, changed hands on Friday. It revealed that 100 companies closed positive, versus 94 that closed in the red and 48 companies that closed unchanged.

Subsectors came in mixed, with industrial falling 0.69 percent, followed by mining and oil, down 0.31 percent, and holding firms, down 0.27 percent.

By contrast, services rose 1.01 percent and property up 0.3 percent.

Ayala Land Inc. (ALI) was the most actively traded company yesterday. It gained 0.25 percent to P40 per share.

Following ALI were Pilipinas Shell Petroleum, down 4.11 percent to P64.20, Megaworld Corp., up 3.13 percent to P4.62, SM Investments Corp., down 0.38 percent to P777 and Ayala Corp., down 0.12 percent to P866 per share.