PSE INDEX DOWN IN DISMAL TRADE

The Philippine Stock Exchange (PSE) today declined in dismal trade with investors staying their decisions amid a lack of buying impetus to close at 6,886, down by 32.41 or 0.47 percent.

PSE member-broker Ricardo {Ardee) Garcia of Diversified Securities said that there was a blanket of grief that overshadowed the trading with the news of the death of former President Benigno Aquino III, who was rushed to Capitol Medical Center and expired while being revived due to multi-organ failure.

Value turnover was a record low at just P1.388 billion as investors stayed on the sidelines with 97 gainers, 100 losers, and 52 shares unchanged.

The financials and industrial sub-sectors posted 0.22 percent and 0.27 percent, respectively, while the holding firms lost 0.83 percent, the services, 0.70 percent, mining and oil, 1.21 percent, and property, 0.54 percent.

Net foreign selling amounted to P912 million indicating that the locals did not join much in trading today with foreign buying of P1.723 billion and foreign selling of P2.636 billion.

Manila Water emerged as the most active stock with trades of P556 million closing 58 centavos higher to P18.20. Monde Nissin rose by 24 centavos to P14.98, while Ayala Land and Ayala Energy declined by 90 centavos to P37 and 10 centavos to P8.40, respectively.

GT Capital rose to P626 , up by P14 while BDO Unibank lost 30 centavos to P113.80, Metrobank and Bank of PI down by identical 5 centavos to close respectively at P48.90 and P87.

The top gainer was Philippine Realty, a second liner, which surged by 47.17 percent as it closed at P0.39, up by P0.125. Market bellwether SM Investments was nowhere near the Top 20 most active stocks indicating the lack of investor interest in the market as it traded just P4.97 million in closing P1.50 down to P998.50 while Ayala Corp also posted a loss of P8.50 to P810.50.

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