Mining & Oil, Property Sectors Recover
Local shares continue their bloodbath as the bellwether Philippine Stock Exchange index (PSEi) dropped from the 3,800 mark to end Wednesday’s trading day at 3,757 points, further down by 0.71% from the close yesterday. The wider all-share index likewise fell 1.11% further, in part due to the continuing crisis in the Middle East that had already affected global oil prices. On a lighter note, the Mining & Oil and Property indices recovered, gaining 0.72% and 0.23%, respectively.
Trading volume reached 3.9 billion, worth an anemic PhP3.41 billion, on 13,597 trades. Losers outnumber gainers 89 to 46, while 32 stocks remained flat.
Although some stocks withstand the weak market, the minimal stock price movements reflected cautious investor sentiment.
The following are the top gainers for the day:
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Boulevard Holdings Inc. (PSE: BHI): PhP0.075, +10.29%
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PLDT Communications and Energy Ventures Inc. (PSE: PCEV): PhP7.40, +8.82%
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Phinma Corp. (PSE: PHN): PhP12.60, +7.69%
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Jolliville Holdings Corp. (PSE: JOH): PhP2.96, +7.64%
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Seafront Resources Corp. (PSE: SPM): PhP1.03, +7.29%
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Manila Mining Corp. (PSE: MA): PhP0.032, +6.67%
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Manila Mining Corp. (PSE: MAB): PhP0.033, +6.45%
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MacroAsia Corp. (PSE: MAC): PhP3.35, +6.35%
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Asia Amalgamated Holdings Corp. (PSE: AAA): PhP0.40, +5.26%
Below are the top five losing stocks for the day:
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Federal Resources Investment Group Inc. (PSE: FED): PhP7, -17.65%
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Metro Pacific Tollways Corp. (PSE: TOL): PhP7.50, -16.67%
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Benguet Corp. “B” (PSE: BCB): PhP14, -9.09%
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San Miguel Properties Inc. (PSE: SMP): PhP720, -7.69%
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Filipino Fund Inc. (PSE: FFI): PhP6.85, -7.43%