Market down after five-day rally (Amended)

STI falls 31.94 points, with banks accounting for a combined 23 points

Published Thu, Jul 20, 2017 · 09:50 PM

SINGAPORE equities' five-day rally spread over the past two weeks came to a halt on Thursday after counters of market movers including the three local lenders, Singapore Telecommunications (Singtel) and Genting Singapore fell.

The benchmark Straits Times Index (STI) ended the session 31.94 points or 0.96 per cent lower at 3,293.13, after retreating from an intraday high of 3,331.13. Trading was mixed with 3.6 billion units valued at S$1.5 billion changing hands and losers beating gainers 244 to 224, or nine up for every 10 down.

The three banks lost a combined 23 points, ahead of the European Central Bank's (ECB) meeting. UOB Bank's counter took the biggest hit and ended the day 59 cents lower at S$23.66. Shares of DBS Bank and OCBC Bank fell 41 cents and 15 cents to finish at S$21.45 and S$11.05 respectively. Index movers Singtel and Genting lost four cents and 2.5 cents to finish at S$3.88 and S$1.08 respectively.