MANILA, April 22 (PNA) — Local share prices extended their losing streak for a third day on Tuesday amid lack of leads.
The barometer Philippine Stock Exchange index (PSEi) declined 18.33 points to 7,846.94 from previous day’s 7,865.27 close.
Equities brokerage DA Market Securities Inc. said the local market may have entered seasonal phase of lack of leads and lower liquidity on post first-quarter earnings.
It advised short-term investors to take profit, and medium to long-term investors to buy on dips.
Trading was mixed across counters, with holding firms and financials in negative territory.
The sub-indices of other counters advanced slightly.
Value turnover reached PHP7.21 billion with 1.05 billion shares changing hands.
Decliners won advancers, 92 to 77, while 52 issues were unchanged.
The day’s most actively traded stocks were led by Universal Robina Corp., BDO Unibank Inc., GT Capital Holdings Inc., Ayala Corp. and Metropolitan Bank & Trust Company. (PNA)