PSEi down after six sessions, Converge declines

October 27, 2020

The Philippine Stock Exchange index (PSEi) ended lower after six sessions on Tuesday even as newly-listed Converge Information and Communications Technology Solutions Inc.

The PSEi closed 76.11 points lower to 6,415.08. In the broader market, there were 117 losers, 79 gainers and 64 unchanged.

Converge, which began trading on Monday, finished at P13.92, down P2.88. It was the most active stock, drawing 126, 173, 700 worth P1.774 billion.

Other most actively traded shares were  Ayala Land, unchanged at P34.40; Jollibee, down P3.20 to P173.20; Dito CME Holdings, down 17 centavos to P6.64.

Volume reached 6.49 billion shares worth P8.02 billion from Monday's 2.7 billion shares valued at P31.09 billion.

The Philippine peso closed at P48.375 against the US dollar from Monday's P48.395. Volume at the foreign exchange portal of the Bankers Association of the Philippines reached $838.87 million from Monday's $671.25 million. DMS