Despite upward movements in Asian markets due to positive Chinese data, the PSEi moved in and out of positive territory ending the day relatively flat as profit taking on BPI (-1.44%) and URC (-3.18%), as well as cautiousness over continuing foreign ownership limit issues limited market upside.
The main share index closed at 5,435.94, drifting down 2.44 points or -0.04% from yesterday’s close. Sectoral indices closed mixed with holding firms (+0.52%), property (+0.16%), and services (+0.13%) ending in positive territory. Mining & Oil (-0.95%), industrials (-0.61%), and financials (-0.52%) on the other hand, ended in the red.
Sy-led companies SMDC (+2.77%) and SM (+1.24%) topped the index charts while URC and BPI lagged the most. Market breadth was slightly negative with 95 declines versus 70 advances and 42 issues unchanged. Value turnover decreased to Php 6.43 billion.