After 6 successive rises, STI falls on 7th try
13-point drop comes after cumulative gains of 234 points; many offshore & marine stocks see big percentage hikes in high volume
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The Straits Times Index (STI), after having risen over six consecutive days during which it added a whopping 234 points, faltered on the seventh which was Monday, dropping 13.49 points to 2,823.51.
Battered offshore and marine (O&M) stocks provided the main highlights, with counters such as Technics Oil and Gas, Ezra, Ezion, Loyz Energy and Nam Cheong all enjoying big percentage gains in high volume.
All 20 most actively traded stocks were priced below S$0.50 and 12 were from the O&M or shipping sectors. Total turnover amounted to 2.8 billion units worth S$1.5 billion for an average of S$0.53 per unit, the lowest this year. Excluding warrants, there were 268 rises versus 168 falls.
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