PSE still on a down trend after 8-consecutive trading days

PSE03202013After soaring high this past 2 months of the year, the Philippine Stocks Exchange continues to go down in the past 8 consecutive days of trading. PSE index closed today at 6,419.62 down by 6.63 points or 0.10%. This is the lowest close by the PSE index since February 7, 2013. The index has lost 414.15 points since March 8, 2013 where it closed at 6,813.95.

Market analysts says the down trend is natural since the stock market soared so high and so fast in the past months. Plus other factors from other stock markets in the region and in Europe and Americas.

Almost all indices are still in the red zone today except Mining and Oil and Property indices which closed at 20,874.44 up by 50.78 or 0.24 % and 2,628.33 up by 13.90 points of 0.53% respectively. The broader All Shares index is also in the downtrend for the past consecutive trading days closing today at 4,042.86 points down by 6.26 points or 015%. Financials index is down by 5.56 points or 0.33% at 1,697.01, Industrial index is also down at 9,791.32 by 0.88 points or 0.01%. Another index on the down trend is the Holding firms which closed at 5,655.92, down by 26.99 points or 0.47% and Services index down by 0.22% or 4.06 points at 1,867.78.

Total volume traded for today is 1,855,165,680 with total value of 13,234,891,241. Decliners overtook advances at 92-62 with 45 unchanged. Most active in today’s trading was SM Investment Corporation which is up by 1.19%. Top gainer today was Filipino Fund Inc adding 27.91% while top loser was Medco Holdings Inc loosing 22.22%.

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