• The Financial District


The Philippine Stock Exchange (PSE) declined again with net foreign selling again rearing its ugly ahead sweeping even Converge with the index losing 37.29 points or 0.58 percent to 6,377.79, it's lowest for the day.

Converge once again ruled the active stocks with total trade of P1.15 billion but with foreigners selling net of P91 million, it dropped to P14.50, down by 72 centavos.

Trading was light at P6.803 billion but gainers were ahead of losers as the second liners had traction. The second most active stock was SM Prime, which hammered by net foreign selling of P147 million, declined by a peso to P32.50 with total trade of P283 million.

Net foreign selling today amounted to P442 million with foreign buying of P2.416 billion and foreign selling of P2.859 billion. Market bellwether SM Investments bore the market sentiment as it lost P4 to P965 while market darling rose by 6 centavos to P3.51. 

BDO Unibank gained 10 centavos to P92, while Metrobank rose by a peso to P3.51 to temper the financials sector which lost a small 0.05 percent.

Dito lost 2 centavos to close at P6.62 while Globe Telecom, with foreign buying of P125 million, gained P50 to P2,100. PLDT lost a peso to P1,361, while First Gen was the biggest gainer with just a rise of 10.98 per cent to P29.30, up by P2.90 indicating the less than positive sentiment in the market rattled by the decline in Converge.

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