PSEi falls below 6,500 sans fresh catalysts

The local bourse tumbled below the 6,500 level on Thursday as investors again opted to book gains while waiting for catalysts.

By the end of the session, the benchmark Philippine Stock Exchange Index (PSEi) lost 1.3 percent, or 84.95 points, to close at 6,466.86.

Likewise, the broader All Shares Index shed 0.8 percent, or 30.44 points, to end at 3,768.44.

A total of 1.54 billion shares worth P6.5 billion changed hands, stock exchange data showed.

Luis Limlingan, head of sales at stock brokerage house Regina Capital Development Corp., said the decline was an extension of Wednesday’s profit-taking. Investors were still waiting for fresh catalysts and, therefore, exhibited some caution, Limlingan added.

BDO Unibank Inc. was the top-traded stock after shedding 3.41 percent to close at P161.30 each.

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It was followed by: International Container Terminal Services Inc., down 0.97 percent to P407; Ayala Land Inc., down 2.55 percent to P22.90; Universal Robina Corp., flat at P91.95; and SM Prime Holdings Inc., down 4.37 percent to P24.10.

Others were Bloomberry Resorts Corp., up 0.5 percent to P4.02; Bank of the Philippine Islands, down 3.43 percent to P135; DigiPlus Interactive Corp., up 0.53 percent to P47.70; Metropolitan Bank and Trust Co., down 2.01 percent to P78; and Jollibee Foods Corp., up 0.74 percent to P245 per share.

Losers edged out gainers, 108 to 77, while 61 companies closed unchanged, stock exchange data also showed.