Profit-taking pulls down PSEi
Profit-takers dragged the local bourse on Wednesday after the market’s two-session rally.
By the closing bell, the benchmark Philippine Stock Exchange Index (PSEi) lost 0.23 percent, or 15.01 points, to end at 6,551.81.
The broader All Shares Index likewise shed 0.17 percent, or 6.45 points, to close at 3,798.88.
A total of 1.56 billion shares worth P9.5 billion changed hands, stock exchange data showed. This was higher than the year-to-date average of P5.53 billion. Foreigners made net purchases worth P356.25 million.
Japhet Tantiangco, research head at Philstocks Financial Inc., said investors opted to pocket gains after the index climbed for two consecutive sessions.
To recall, investors cheered the United States’ trade deal with the United Kingdom. The optimism extended the following week because of “generally peaceful” midterm elections at home.
The sectors ended mixed on Wednesday, with property firms leading the gainers, while the conglomerates recorded the steepest loss.
International Container Terminal Services Inc. was the top-traded stock after ending higher by 0.98 percent to P411 each. It was followed by Ayala Land Inc., up 4.44 percent to P23.50; BDO Unibank Inc., down 0.6 percent to P167; Aboitiz Equity Ventures Inc., up 9.56 percent to P37.25; and SM Prime Holdings Inc., up 4.13 percent to P25.20 per share.
Others were Bloomberry Resorts Corp., down 2.91 percent to P4; Jollibee Foods Corp., up 4.38 percent to P243.20; Metropolitan Bank and Trust Co., down 1.12 percent to P79.60; Bank of the Philippine Islands, down 0.85 percent to P139.80; and DigiPlus Interactive Corp., up 4.29 percent to P47.45 each.
