PSEi continues slide sans new catalysts
The local bourse continued its descent on Monday as investors opted to book profits while waiting for a strong catalyst to jolt life into the market.
By the closing bell, the benchmark Philippine Stock Exchange Index (PSEi) had lost 0.25 percent, or 15.22 points, to end at 6,140.35.
Likewise, the broader All Shares Index shed 0.09 percent, or 3.33 points, to close at 3,683.55.
A total of 1.15 billion shares worth P4.21 billion changed hands, stock exchange data showed. Foreigners contributed to the bourse’s decline, with outflows totaling P148.55 million.
Japhet Tantiangco, research head at Philstocks Financial Inc., said the bourse succumbed to profit-taking due to the lack of a positive catalyst.
PLDT Inc. was the most actively traded stock as it shed 3.11 percent to P1,123 each, followed by SM Investments Corp., down 0.26 percent to P753; Ayala Land Inc., up 1.79 percent to P28.50; BDO Unibank Inc., flat at P135.20; and International Container Terminal Services Inc., down 0.41 percent to P481 each.
Others were SM Prime Holdings Inc., down 0.43 percent to P23; Ayala Corp., up 0.18 percent to P546; Globe Telecom Inc., down 0.13 percent to P1,505; Converge ICT Solutions Inc., up 2.57 percent to P14.36; and DigiPlus Interactive Corp., up 2.17 percent to P23.50 per share.
Despite the decline, gainers outnumbered losers, 110 to 96, while 55 companies closed flat, stock exchange data also showed.
