PSE DECLINE ON LIGHT TRADE

The Philippine Stock Exchange (PSE) today only had a wisp of recovery before a sell down ensued with the index down by 86.66 points or 1.40% to 6,105.18 points on light trade.


Opening on a high note, the stock index zoomed to its highest at 6,125.57 points but buckled at the end though it clawed back some of its losses in an anemic trade of P5.55 billion . Losers overwhelmed gainers 142 to 63 with 44 shares unchanged as many of the blue chips only had brief glimpses of glory before succumbing to sell downs. Market darling Merry Mart mirrored the trading performance of most stocks opening higher at P3.51 and rising further by another 4 centavos for it's highest price point before coming down to earth 26 centavos down to close P3.25 though it was the third most active stock at P306.04 million. Altus stole the thunder from Merry Mart closing at a freeze price of P27.72, up P9.25 on trade of P239.31 million. BDO Unibank and BPI posted losses and much like the other blue chips opened on a high note. With BDO down by P4.50 and BPI losing P1.35, the financial sector posted the biggest loss among the sectoral indices with a decline of 2.76%.

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