PSEi ends Holy Week trading in the red

Investors opted to pocket gains and shed their stocks ahead of the Holy Week break.

By the end of the session on Wednesday, the benchmark Philippine Stock Exchange Index (PSEi) lost 0.83 percent, or 51.48 points, to close at 6,134.62.

Meanwhile, the broader All Shares Index added 0.28 percent, or 10.34 points, to 3,656.99.

A total of 951.74 million shares worth P4.21 billion changed hands, stock exchange data showed.

Luis Limlingan, head of sales at stock brokerage house Regina Capital Development Corp., said investors took advantage of the bourse’s recent comeback and booked gains before the long weekend.

There will be no trading on Thursday and Friday, both public holidays.

Services firms suffered the steepest loss index heavyweight International Container Terminal Services Inc. (ICTSI), the top-traded stock, slipped by 3.9 percent to P340.20 each.

The conglomerates also saw a steep dip due to a 2.95-percent decline in the shares of SM Investments Corp., which closed at P805 each.

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ICTSI was followed by BDO Unibank Inc., up 0.63 percent to P161; Ayala Land Inc., down 1.04 percent to P23.70; SM Prime Holdings Inc., down 0.22 percent to P22.60; and Converge ICT Solutions Inc., up 3.95 percent to P19.48 per share.

Other actively traded stocks were Bank of the Philippine Islands, which was flat at P132; Manila Electric Co., up 0.35 percent to P580; Jollibee Foods Corp., up 1.47 percent to P234; and Universal Robina Corp., up 1.87 percent to P71 each.

Gainers outnumbered losers, 110 to 79, while 51 companies closed unchanged, stock exchange data also showed.