PSEi slips ahead of inflation data

The local bourse slipped on Monday as investors pocketed gains and braced for upcoming inflation data.

By the end of the session, the benchmark Philippine Stock Exchange Index (PSEi) had shed 0.68 percent, or 43.33 points, to close at 6,364.94.

Likewise, the broader All Shares Index had dipped by 0.27 percent, or 10.39 points, to 3,781.67.

A total of 1.05 billion shares worth P7.9 billion changed hands, stock exchange data showed.

The index’s decline came as investors opted to book profits ahead of the release of June inflation data on Friday, said Luis Limlingan, head of sales at stock brokerage house Regina Capital Development Corp.

The Bangko Sentral ng Pilipinas pegged inflation last month within the 1.1 percent to 1.9 percent range, or below the Marcos administration’s target range of 2 to 4 percent.

Only property firms ended in the green territory as top-traded stock Ayala Land Inc. surged by 4.65 percent to P27 each. SM Prime Holdings Inc. likewise rose by 1.74 percent to P23.45 per share.

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Other actively traded stocks were International Container Terminal Services Inc., down 2.28 percent to P411; BDO Unibank Inc., down 2.05 percent to P152.80; and DigiPlus Interactive Corp., down 8.61 percent to P52 each.

Bank of the Philippine Islands was down 2.4 percent to P130; Metropolitan Bank and Trust Co., down 0.34 percent to P72.50; SM Investments Corp., down 0.91 percent to P872; Alliance Global Group Inc., up 0.22 percent to P9.02; and Jollibee Foods Corp., down 5.51 percent to P216 per share.

Gainers edged out losers, 108 to 82, while 61 companies closed flat, stock exchange data also showed.