PSEi ends week on a low note; investors pessimistic

The benchmark Philippine Stock Exchange index (PSEi) ended the week on a low note as investors remained pessimistic about the pace of economic recovery with COVID-19 infections still on the rise.

By the closing bell on Friday, the PSEi was down 0.63 percent, or 37.37 points, to 5,884.18 while the broader all-shares index was down 0.28 percent, or 9.83 points, to 3,534.58.

Subsectors were mostly in the red, save for services, which gained 1.24 percent. The biggest drop came from property stocks, down 1.75 percent, followed by mining and oil, down 0.82 percent and holding firms, which sank 0.79 percent.

A total of 3.73 billion shares valued at P8.26 billion changed hands, according to data from the PSE. There were 102 decliners versus 87 gainers while 56 companies closed unchanged.

SM Investments Corp. was the most actively traded on Friday as it sank 2.63 percent to P850 per share.

It was followed by Ayala Land Inc., down 3.03 percent to P28.80; BDO Unibank, down 1.21 percent to P86; SM Prime Holdings, down 1.02 percent to P29.20; and PLDT Inc., up 2.28 percent to P1,479 per share.

Other actively traded stocks were JG Summit Holdings, up 1.1 percent to P64.30; Universal Robina Corp., down 0.72 percent to P137.80; International Container Terminal Services, unchanged at P105; Globe Telecom, down 2.16 percent to P2,088 and Metropolitan Bank & Trust, down 2.62 percent to P33.50 per share. —MIGUEL R. CAMUS