PSE KEELS SOME MORE

The Philippine Stock Exchange (PSE) keeled some more as Converge declined further to bring down the index to 6,415 points, down 76.11 points or 1.17 percent.

All six sub sectors were in the red with the holding firms, financials and property sectors, posting respective losses of 1.40 percent, 1.35 per cent and 1.25 percents.

Converge dropped by another P2.88 or 17.14 percent and it was the most active stock anew with transactions of P1.7 billion. Ayala Land was unchanged at P34.40 and was the second most active with total trade of P530 million.

The decline in the index happened even with net foreign buying of P103 million on foreign selling of P2.996 billion and foreign buying of P3.099 billion. Ayala Land had buying of P286 million. 

Market bellwether SM Investments lost P12 to close at P969, while SM Prime dropped 70 centavos to P33.50. Globe Telecom, which had foreign buying of P84 million, gained P16 to P2,050, while PLDT also rose by P2 to P1,362. 

Market darling MerryMart gained 3 centavos to close at P3.45, while Bank of PI and BDO Unibank had differing performances in a market that had 79 gainers, 117 losers and 64 shares unchanged in total trade of P8.019 billion.

Bank of PI, which had net foreign buying of P36 million went up by 35 centavos to P74.95 while BDO Unibank lost P3.35 to close at P91.90.