Shocking Monday Meltdown: PSEi Stocks in Free Fall - What Happened on September 30

Monday, September 30, 2024, was a day of high drama on the Philippine Stock Exchange, as the PSEi stocks witnessed a mixed trading session, with several member stocks experiencing a significant downturn. While some stocks managed to end the day in the green, others faced a meltdown, leaving investors grasping for answers.

The downtrend was largely attributed to a combination of global market factors and local economic indicators. The global market sentiment remained cautious, with investors carefully assessing the ongoing developments in the Asian markets. Locally, concerns over inflation and interest rates also weighed on the minds of investors.

AC Energy stock was one of the member stocks that suffered a significant decline. The stock closed the trading session at PHP 700.00, down by 2.08% or PHP 15.00 from its previous close. The stock was the most actively traded stock on the day, with over 1.14 million traded shares.

DMCI Holdings was another stock that faced a downtrend, closing at PHP 10.48, down by 4.21% or PHP 0.46 from its previous close. The decline was largely attributed to the company's reported net income, which fell short of analyst expectations.

On the other hand, Bloomberry Resorts stocks bucked the trend, surging to a new high of PHP 16.98. The stock closed the trading session at PHP 16.56, up by 9.42% or PHP 1.42 from its previous close. The company's reported revenue growth and increased gaming volumes were cited as the main drivers behind the stock's impressive rally.

Concluding the trading day, the Philippine Stock Exchange index (PSEi) closed at 7,202.41, slightly down by 0.21% from its previous close. The PSE all-share closed at 4,150.45, down by 0.14%.

Investors remain cautious as they continue to assess the local and global economic indicators. However, despite the mixed trading session, analysts are optimistic about the long-term prospects of the PSEi stocks. They advise investors to keep an eye on the companies' fundamentals and growth drivers when making their investment decisions.