PSEi closes 0.36% down

The local stock barometer ended the week on a sluggish note despite the surprise monetary easing announced by the Bangko Sentral ng Pilipinas.

The main-share Philippine Stock Exchange index (PSEi) shed 28.48 points or 0.36 percent to close at 7,922.50, tracking lackluster regional markets.

This was even after the BSP’s announcement further slashing the reserve requirement on banks by another 1 percentage point to 14 percent by Dec. 1, releasing more liquidity into the financial system.

The PSEi was dragged down by the industrial, holding firm and property counters.

On the other hand, the financial, services and mining/oil counters firmed up.

Value turnover for the day amounted to P6.97 billion. There was P307 million worth of net foreign selling for the day.

There were 110 decliners that edged out 75 advancers, while 55 stocks were unchanged.

The PSEi was weighed down most by DMCI, which slumped by 5.31 percent ahead of its third quarter earnings report.

Ayala Corp. fell by 1.85 percent, while BDO, Metro Pacific Investments, AGI and Meralco all lost over 1 percent.

SM Investments, the day’s most actively traded company, slipped by 0.29 percent.

URC, SM Prime, ICTSI and Ayala Land also slipped.

On the other hand, LTG and Security Bank gained by over 1 percent while BPI added 1.9 percent.

Metrobank also rose by nearly 1 percent after announcing higher third quarter profits.

San Miguel and First Gen also gained.

Outside of the PSEi, notable gainers included Suntrust and Megawide, which surged by 5.04 percent and 3.23 percent, respectively.