Stock index down 0.06%

Stock index down 0.06%

Philippine Stock Exchange index (PSEi), yesterday, closed lower as investors dealt with news on slower inflation rate and sudden appointment of Budget Secretary Benjamin Diokno as the new head of Bangko Sentral ng Pilipinas.

PSEi ended at 7,670.62, down 0.06 percent or 4.85 points, while the broader all-shares index also lost 0.17 percent or 8 points to 4,740.90 on Tuesday.

Markets responded as inflation slowed to 3.8 percent in February. It brought close to within the government’s full-year target range of 2-4 percent.

While markets hailed at more stable prices, they also took stock of statements made by Benjamin Diokno on how he distinguished that the BSP in his term would direct monetary policy to sustain economic growth.

On the subject of subsectors; property, mining and oil saw the biggest losers as had declines of 0.81 percent and 0.75 percent, respectively. Services had the major increase at 1.15 percent.

Decliners outstripped gainers 115 to 89 while 46 companies closed unchanged. With a total of 3.5 billion shares appreciated at P6.62 billion changed hands last Tuesday.

Ayala Land Inc. had the record actively traded yesterday as it grew 0.82 percent to P43.25 per share, followed by SM Prime Holdings Inc., down 2.99 percent to P37.35, International Container Terminal Services Inc., down 0.18 percent to P112.80, JG Summit Holdings, up 1.06 percent to P66.90 and SM Investments Corp., up 0.16 percent to P941.50 per share.

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