PSEi slides back to 7,100 – mark

04/27/2016
PSEi slides back to 7,100-mark

The Philippine benchmark index (7,180.53, -0.44%) moved back below the 7,100-mark, weighed down by a dearth in upbeat market- moving news. Overall market breadth was negative as well with 142 losers edging out the 60 gainers and 36 unchanged issues. It was red all across the sectors, with the service sector (1,473.65, – 1.43%) chalking in the biggest percentage decrease due to TEL (1,725.00, -1.99%) and IS (0.35, -17.65%), with the latter succumbing to profit taking after its recent upswing. The mining and oil sector (10,507.74, -1.15%) also fell by more than one percent on the back of losses from NIKL (5.18, -5.65%), PX (5.49, -1.79%), MAB (0.0130, -7.14%), and MARC (2.01, -4.29%). MEG (3.80, -3.80%), SMPH (22.45, -0.66%), and RLC (27.40, – 2.14%) weakened the property sector (2,922.54, -0.65%), while the holding companies sector (7,140.30, -0.41%) shed more points due to AGI (15.24, -3.79%), SM (950.00, -0.47%), DMC (12.10, -2.26%), and SMC (67.70, -3.29%). SECB (166.50, -1.30%) and MBT (82.35, -0.78%) led the decline of the financial index (1,593.18, -0.14%), while PCOR (10.54, -1.50%), FGEN (20.65, -1.20%), EMP (7.93, – 1.12%), and RFM (4.20, -2.33%) sent the industrial sector (11,824.97, -0.04%) into the negative territory.

source Techistock.net