The PSEi dropped 88.17 points or 2.05% to 4,219.82 on Tuesday. The main-share index recorded its biggest one-day decline in six weeks following the downgrade of Italy’s credit rating.
The decline was broad-based, with all 30 index constituents ending the day in red. The sell-off was led by property shares (-3.52%), with SMPH (-6.30%), ALI (-3.16%), RLC (-2.88%), and SMDC (-2.65%) all posting steep losses. Other notable decliners were SM (-4.75%), DMC (-4.07%), and AGI (-2.87%). All six sectors lost over 1% on Tuesday.
Value turnover rose to Php3.82Bil from Php2.99Bil on Monday. Foreigners turned net sellers for the session, unloading Php506.79Mil worth of shares.
via www.citiseconline.com
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