PSEi begins the week down as the infection count continues to feed market jitters

After coronavirus infections remained elevated after recently reaching another record high, the benchmark Philippine Stock Exchange Index (PSEi) suffered a dip at the start of the week.

An electronic board displays stock figures at the trading floor of the Philippine Stock Exchange in Bonifacio Global City (BGC), Metro Manila, the Philippines, on Monday, July 2, 2018. The Philippine Stock Exchange Index tumbled 9.9 percent in the second quarter, buffeted by a weakening peso, quickening inflation, and the brewing trade war between the U.S. and China, not to mention the general selloff in emerging markets. Photographer: Carlo Gabuco/Bloomberg via Getty Images

On Monday, the PSEi fell 0.52 percent, or 37.51 points, to 7,223.83 points, while the broader all-shares index fell 0.26 percent, or 10.06 points, to 3,845.24.

After the market closed on Monday, the Department of Health announced 37,070 additional COVID-19 cases.

The number fell somewhat from Sunday’s 37,154 instances, which was also down from Saturday’s all-time high of 39,004 cases.

There are now over 3.2 million COVID-19 instances in the country, with 290,938 of them still active. On Monday, all PSE sectors were lower, except for services, mining, and oil, which increased 0.31 percent and 2.3 percent, respectively.

Financials were down by 0.8 percent, followed by property, which fell by 0.74 percent, industrials, which fell by 0.55 percent, and holding companies, which fell by 0.31 percent.

On Monday, a total of 1.13 billion shares worth P5.78 billion changed hands, with foreigners largely selling for a net loss of P232.39 million.

According to the PSE, there were 104 losers vs. 78 gainers, with 61 businesses closing unchanged.

The most frequently traded stock for the session was Solar Philippines Nueva Ecija Corp., which was up 6.62 percent to P1.61.

Universal Robina Corp. fell 2.32 percent to P126.50 per share, followed by Haus Talk Inc., which rose 6.67 percent to P1.60, Monde Nissin Corp., which rose 0.35 percent P17.24, and Emperador Inc., which rose 0.93 percent to P19.58 a share.

BDO Unibank Inc., down 1.78 percent to P127.20, International Container Terminal Services Inc., up 2.27 percent to P203, D&L Industries Inc., down 3.15 percent to P8.60, Converge ICT Solutions Inc., down 0.32 percent to P31.15, and DITO CME Holdings Corp., down 9.17 percent to P5.15 per share, were among the other active names.

Source: Inquirer

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