Profit taking snaps 3-day PSEi rally

The Philippine Stock Exchange index (PSEi) snapped a three-day winning streak after investors pocketed some gains on Thursday.

The benchmark PSEi dropped by 0.62 percent or 39.11 points to end at 6,241.97 while the broader All-Shares index slipped by 0.26 percent or 9.61 points to close at 3,687.05.

“Philippine investors finally took some profit after several days of rallying from the local market as many continue to assess the latest [inflation] report,” said Luis Gerardo Limlingan, head of sales at stock brokerage house Regina Capital Development.

Inflation in January was 2.9 percent, which fell within the 2.5 percent to 3.5 percent projection by the Bangko Sentral ng Pilipinas.

Sub sectors were mixed. Industrial and mining and oil indices rose by 0.51 percent and 0.23 percent, respectively, while the rest registered a decline.

Over 622.7 million shares valued at P5.13 billion were traded. Winners led losers, 91-85, while 60 issues were unchanged.

See Also

BIZ BUZZ: Coca-Cola PH gets a new name

The most actively traded shares were that of BDO Unibank Inc., dipping by 1.97 percent to P144.10.

This was followed by International Container Terminal Services Inc., down 2.06 percent to P370.20; Aboitiz Power Corp., up 5.82 percent to P42.75; Ayala Land Inc., down 2.12 percent to P25.35; Globe Telecom Inc., up 1.86 percent to P2,300; and SM Investments Corp., down 0.48 percent to P826.

Other active names were Bank of the Philippine Islands, down 0.63 percent to P127; China Banking Corp., down 0.67 percent to P89.40; DigiPlus Interactive Corp., up 2.24 percent to P32; and SM Prime Holdings, down 1.35 percent to P25.65.