PSEi closes below 8,000 on weaker sentiment

The benchmark Philippine Stock Exchange index (PSEi) slipped below the 8,000 level as it tracked weaker sentiments across the region.

By the closing bell on Friday, the PSEi slumped 0.77 percent, or 61.56 points, to 7,990.20.

The broader all-shares index was also down 0.59 percent, or 29.21 points, to 4,884.91.

Holding firms declined the most on Friday as the subindex lost 1.41 percent.

It was followed by property, down 0.85 percent; industrial, down 0.55 percent; and services, down 0.15 percent.

Mining and oil rose 0.74 percent as did financials, which gained 0.44 percent.

Volume was also moderate as 920.03 million shares valued at P7.7 billion changed hands yesterday.

There were 112 decliners against 74 gainers while 54 companies closed unchanged.

Property giant Ayala Land Inc. was the most actively traded on Friday as it dropped 1.94 percent to P50.50 a share.

It was followed by Ayala Corp., down 1.1 percent to P900; SM Prime Holdings, down 0.13 percent to P39; International Container Terminal Services, down 0.34 percent to P148; and BDO Unibank Inc., unchanged at P140 per share.

Other actively traded stocks were SM Investments Corp., down 2.08 percent to P940; D&L Industries, up 2 percent to P10.20; Phinma Energy Corp., down 7.53 percent to P2.58; PLDT Inc., down 0.08 percent to P1,230; and Jollibee Foods Corp., down 1.04 percent to P286 a share.