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
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Bellweather index breaches 7,800 then retreats

The Philippine benchmark index (7,723.14, -0.76%) tested the 7,800- level in the first minutes of trade before succumbing to profit taking for the rest of the trading session. Around 1.62 billion shares worth P9.5 billion changed hands today, with value turnover getting a boost from the overnight equity placement by MPI (4.97, -5.15%) which was consummated through several block sales. Almost all the counters retreated, with the mining and oil sector (16,085.24, -1.80%) posting the biggest percentage decline due to the extended weakness of SCC (155.20, -2.94%). The industrial index (12,894.52, -1.33%) dropped considerably as well, as URC (216.20, -3.48%) succumbed to profit taking after its strong run-up yesterday. Apart from Metro Pacific, the holding companies index (6,804.93, – 0.90%) was pulled lower by SM (912.00, -1.41%), JGS (65.00, – 1.52%), and AC (719.00, -1.24%). The property sector (2,957.26, -0.96%) was pulled lower mainly by ALI (35.50, -1.53%), while the financial index (1,776.25, -0.37%), was weighed down by SECB (155.00, -2.70%), BPI (97.55, -0.46%), and MBT (94.00, -0.58%). The service sector (2,196.14, +0.35%) was the only bright spot among the counters today, buoyed by a new 52-week high from RRHI (84.00, +1.20%) as well as the slight rebound of gaming firms BLOOM (10.60, +2.71%), MCP (9.80, +1.03%), and RWM (6.83, +0.44%) which were heavily sold down yesterday following recent updates of the Chinese government’s crackdown on gambling.

source Techistock.net