PSEI slips as Monday blues grip markets

The stock barometer started the week on a sluggish note as investors continued to lock up gains after the market’s recent surge to new highs.

The main-share Philippine Stock Exchange index (PSEi) on Monday lost 36.54 points or 0.44 percent to close at 8,244.73, tracking mostly sluggish stock markets elsewhere in the region.

Sentiment was mixed across counters, with the industrial, services and property counters all slipping by over 1 percent. The financial counter also faltered.

The holding firm and mining/oil counters both gained.

Value turnover stood at P6.76 billion. There was modest net foreign buying amounting to P8.82 million.

A total of 156 decliners overwhelmed 65 advancers, while 36 stocks were unchanged.

The PSEi was weighed down most by EDC, which fell by 15.13 percent.

ICTSI likewise declined by 2.46 percent while Ayala land and Semirara both fell by over 1 percent.

Outside of the PSEi, FLI and IMI both fell by over 6 percent while Bloomberry slipped by 1.71 percent.