Profit-taking ends PSEi 4-day win streak

After four consecutive sessions of climbing, the local bourse succumbed to profit-taking on Thursday, with the benchmark index sliding to the 6,800 level. By the closing bell, the Philippine Stock Exchange Index (PSEi) slipped by 1.61 percent or 112.62 points to 6,863.01.

The broader All Shares Index likewise shed 0.99 percent or 38.02 points to close at 3,809.39. A total of 1.37 billion shares worth P5.62 billion changed hands, stock exchange data showed.

Services subsector

The bourse re-entered the red territory following its four-session winning streak as traders moved to sell stocks and lock in gains, said Luis Limlingan, head of sales at stock brokerage house Regina Capital Development Corp.

Only the services subsector rose, buoyed by index heavyweight International Container Terminal Services Inc. (ICTSI). The Razon-led firm was the most actively traded stock and one of the few gainers as it climbed by 2.26 percent to P408 per share.

Holding firms

Investors shed holding firms the most, with SM Investments Corp. slipping by 5.78 percent to P904 each.

ICTSI was followed by Ayala Land Inc., down 1.16 percent to P29.95; Bank of the Philippine Islands, down 1.81 percent to P135.50; BDO Unibank Inc., down 1.1 percent to P152.30; and SM Investments.

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Other actively traded stocks were Jollibee Foods Corp., down 1.68 percent to P269.40; Semirara Mining and Power Corp., down 0.47 percent to P31.75; Ayala Corp., up 1.93 percent to P659.50; SM Prime Holdings Inc., down 4.11 percent to P28; and Metropolitan Bank and Trust Co., down 0.77 percent to P76.90 per share.

Losers outnumbered advancers, 111 to 86, while 57 companies closed unchanged, stock exchange data also showed.