Friday, September 22, 2017
Close  
business /

PSEi ends week on sluggish note

business /
  • share this

PSEi ends week on sluggish note

/ 04:49 PM March 31, 2017

The local stock barometer returned to the doldrums on Friday in the absence of fresh incentives to load up on local equities ahead of the weekend.

The main-share Philippine Stock Exchange index shed 20.87 points or 0.29 percent to close at 7,311.72. Regional markets were mixed.

For the week, the PSEi firmed up by a modest 42.1 points or 0.58 percent from last week’s finish of 7,269.62. Dealers said the market was still consolidating within a tight range.

ADVERTISEMENT

On Friday, the PSEi was led lower by the property counter, which fell by 1.07 percent while the financial, industrial, holding firm and mining/oil counters also slipped.

Only the services counter firmed up, gaining 1.32 percent.

Value turnover for the day amounted to P9.17 billion. Market breadth was negative, with 102 decliners edging out 86 advancers while 42 companies were unchanged.

ALI and GT Capital both fell by over 2 percent while JG Summit and DMCI slipped by over 1 percent.

BDO, MPIC and SM Prime also declined.

One notable decliner outside the PSEi was Cemex, which slipped by 5.26 percent.

On the other hand, newly listed Wilcon Depot gained 5.54 percent on its first day of trading and was the most actively traded company for the day.

ICTSI and PLDT gained over 2 percent while Jollibee also gained 1.54 percent. SM Investments, Metrobank, Security Bank, Semirara, URC, Ayala Corp. and Globe also firmed up.

ADVERTISEMENT

Apart from Wilcon, another notable gainer outside of the PSEi included Bloomberry, which rose by 2.71 percent.

Subscribe to INQUIRER PLUS to get access to The Philippine Daily Inquirer & other 70+ titles, share up to 5 gadgets, listen to the news, download as early as 4am & share articles on social media. Call 896 6000.

TAGS: Philippine stocks, PSEi
For feedback, complaints, or inquiries, contact us.




© Copyright 1997-2016 INQUIRER.net | All Rights Reserved