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The benchmark index of the Philippine Stock Exchange (PSEi) fell on Friday as investors awaited further developments on the damage caused by Typhoon “Ulysses.”
At the close of the bell on Friday, the PSEi was down 0.77 percent, or 54.38 points, to 6,969.88, while the broader index of all stocks was down 0.47 percent, or 19.25 points. , at 4,083.55.
“Many investors stood by to assess the damage caused by Typhoon Ulysses,” Luis Gerardo Limlingan, managing director of Regina Capital Development, said in a note to investors.
Furthermore, news about the increase in COVID-19 cases and its impact on the economy continued to dampen sentiments, he said.
The subsectors were mixed on Friday, with property, mining and oil closing higher, while the losers were led by financial companies, holding companies and industrial stocks.
A total of 1.8 billion shares valued at P10.77 billion changed hands on Friday. There were 119 winners versus 85 declining, while 54 companies closed unchanged.
BDO Unibank Inc. was the most actively traded on Friday, losing 1.38 percent to P93 per share.
It was followed by Ayala Land Inc., with an increase of 3.13 percent to $ 39.50; Bank of the Philippine Islands, up 3.14 percent to P81.70; SM Investments Corp., fell 1.81 percent to P1.030; and SM Prime Holdings, up 1.17 percent to P38.7 per share. —MIGUEL R. CAMUS
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