PSEi slips for 5th straight session

The local stock barometer slipped for the fifth session in a row on Tuesday, tracking lackluster regional markets as the second quarter corporate reporting season ended.

The Philippine Stock Exchange index lost 3.39 points or 0.05 percent to close at 7,333.45.

The day’s decline was led by the financial, industrial, holding firm and mining/oil counters while the services and property firms slightly firmed up.

Value turnover was thin at P5.22 billion. There were 61 advancers that were overwhelmed by 103 decliners while 42 stocks were unchanged.

The PSEi was led lower by Megaworld, which fell by 4.68 percent while parent firm AGI slipped by 3.14 percent. Metrobank also slipped by 2.49 percent while parent conglomerate GTCAP fell by 1.22 percent.

MPIC, JG Summit and BPI also contributed to the day’s decline.

Outside of the PSEi, Puregold (-3.66 percent) and RRHI (-0.41 percent) declined in heavy volume. Doris Dumlao-Abadilla