PSE DOWN IN VOLATILE TRADE

The Philippine Stock Exchange (PSE) index declined in volatile trade with blue chips gyrating in share prices during today's trading as investors cashed in their gains with the lack of good news to prop up investor sentiment, to close 22.50 points or 0.31 percent down to 7,202 points.

Losers overshadowed gainers, 203 to 39, with 33 shares unchanged with value turnover of P10.08 billion, net foreign selling amounting to P742 million on foreign buys of P2.304 billion, and foreign selling of P3.044 billion.

Dito, the most actively traded with P1.045 billion, declined by 5 centavos to P8.30, but trading in the issue was volatile as it went down to P8.01 after hitting a high of 8.94 after opening at P8.41.

Market bellwether SM Investments rose P10 to P1,075, but it swayed between P1,046 and P1,075, while telcos PLDT and Globe Telecom were down, respectively by P19 to P1,334 and P26 to P2,034. Both had net foreign selling with PLDT, P42 million and Globe, P32 million.

Aside from SM, there were only three other gainers of the top 20 most active stocks.

These were Acen, up 80 centavos to P7.34, SM Prime, also up 80 centavos to P38.90 and Metrobank, up 65 centavos to P51.

BDO Unibank, hobbled by net foreign sales of P164 million, lost P2 to P107.90, while Metrobank was up 65 centavos to P107.90, though it swayed from P48.80 to P51. Market darling MerryMart also had volatile trade between P6.49 and P5.90 before settling at P5.93, down 27 centavos.

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