PSE IN DOLDRUMS
The Philippine Stock Exchange (PSE) is headed to the doldrums with the lack of good economic news to propel it plus the lack of investor interest to push it.
PSE's index went down by 25.47 points or 0.43 percent to 5,973.93 points after briefly going up beyond it's 6,000 point level in the early going only to lose momentum later.
Value turnover was at a low of P2.170 billion indicating the lack of appetite from investors. There were 74 gainers against 105 losers with 42 shares unchanged.
Trading was thin across all sectors with net foreign selling again surging to P1.092 billion with foreign buying hitting P1.240 billion and foreign selling touching P2.332 billion.
Metrobank had foreign buying of P99 million but it still declined by 15 centavos to P38.85 while BDO Unibank closed 40 centavos lower to P89.50. Bank of PI was up 5 centavos to P65.80.
Dito was again the most active at P708.8 million with its share price up 67 centavos to P6.43 while market darling MerryMart was up 7 centavos to P3.13. Metro Pacific was up by 9 centavos to p3.79.