PSEi retreats anew

MANILA, Nov. 24 (PNA) — The local stock market snapped a three-day gain on Tuesday, tracking overseas developments.

The barometer Philippine Stock Exchange index (PSEi) lost slightly 3.59 points to 6,992.60 from previous day’s 6,996.19 close.

”The bears were dominant in today’s session, even as last-minute buying resulted in negligible losses at the market’s close… US (United States) markets overnight were also directionless. Asian markets ended mixed,” said RCBC Securities Inc. in a market report.

Counters were mixed with industrial and financials increasing slightly.

The sub-indices of other sectors were in the negative territory.

Volume of transactions reached 1.04 billion shares valued at PhP5.76 billion.

Decliners swamped advancers, 115 to 57, while 40 issues unchanged.

The day’s top active stocks were led by Metro Retail Stores Group Inc., Robinsons Land Corp., Philippine Long Distance Telephone Company, Universal Robina Corp. and GTC Capital Holdings Inc. (PNA)