PSEI ends flat on Friday trading lull

Stocks took a pause after a sharp decline during the previous session.

The benchmark Philippine Stock Exchange index (PSEi) ended the week relatively flat, higher by only 0.02 percent, or 1.37 points, to 8,814.62 on Friday’s close. The broader all-shares index was down 0.05 percent, or 2.66 points, to 5,098.75.

Trading was subdued, with 649.24 million shares valued at P7.95 billion changing hands on Friday.

Activity on the PSE subindices was nonetheless mixed. Mining and oil and industrial firms were the only losers, with declines of 1.22 percent and 0.9 percent, respectively.

Financials closed 0.35-percent up, followed by property, up 0.39 percent, and holding firms and then services, up 0.07 percent and 0.04 percent, respectively.

Overall, a total of 103 companies closed in the red while 96 gained and another 48 closed unchanged on Friday.

On trading activity, Security Bank Corp. led the pack. It gained 0.47 percent to P255.40 per share.

It was followed by Ayala Land Inc., unchanged at P44.35; BDO Unibank Inc., down 0.06 percent to P164.90; Aboitiz Equity Ventures, up 2.25 percent to P73.70; and Ayala Corp., up 1.43 percent to P1,065 per share.

Other actively traded firms were Jollibee Foods Corp., unchanged at P255; Metropolitan Bank and Trust, up 1.57 percent to P109.70; SM Prime Holdings Inc., up 1.04 percent to P38.90; SM Investments Corp., up 0.49 percent to P1,029 and Universal Robina Corp., down 2.69 percent to P163 per share.