PSE DOWN AGAIN

The Philippine Stock Exchange (PSE) declined again today in another light trade to close  15.04 points or 0.26 percent to 5,894.28 points although it had to claw back from a much bigger close.

Net foreign selling continued again while many local investors were absent from trading due to lack of economic impetus to go stocks. 

Total value turnover was at a low of P4.629 billion with net foreign selling computed at P655 million on foreign buying of P1.185 billion against foreign selling of P1.840 billion.

There 105 losers against 86 gainers with 46 shares unchanged with the holding and services sector posting gains against the losses in financials. Industrials, mining and property indicators.

Market bellwether SM Investments and other blue chips stocks did not trade much indicating the pessimistic sentiment still prevalent in the market. SM, which had foreign selling of P19 million, went up by P7.50 to P887 with a value turnover of P99 million while it's sister firm SM Prime posted a smallish 5 centavo gain to P29.05 on trade of P112 million. 

Now was again the most active stock with transactions of P907 million as it's share price gyrated, opening at a high of 3.77 hit a low of P3.20 and a high of P4.30 before closing at P3.28 for a loss of 30 centavos. Net selling amounted to P33 million.

Another telco stock Dito was the second most active with value turnover of P346 million as it tracked that of Now, opening high at P4.14 dropped to P3.92 after hitting a high of P4.27 before closing down 13 centavos lower to P3.99.

BDO Unibank lost p1.80 to P88.30 while Bank of PI went down by 20 centavos to P64.40. Both had foreign selling with BDO at P42 million and BPI P21 million.

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