PSEi slips as investors lock in gains
The Philippine Stock Exchange index (PSEi) ended lower on Friday as investors took profits following the market’s recent rally. Still, trading activity remained upbeat and foreign funds stayed net buyers.
The benchmark PSEi closed at 6,464.67, down 0.35 percent. This marked a pullback on the market’s final trading day of the week.
The decline came after several sessions of gains, prompting some investors to pare positions.
Despite the drop, trading was active. Net value turnover reached P6.81 billion. This exceeded the year-to-date average of P6.21 billion, indicating sustained market participation.
Foreign investors were net buyers, posting net inflows of P337.05 million. This provided some support to prices.
Philstocks financial research manager Japhet Tantiangco said sectoral performance was mixed.
Financial stocks led the gainers, with the banking sector rising 0.52 percent as select blue-chip lenders attracted buying interest.
In contrast, the services sector was the biggest drag, sliding 1.74 percent. Selling pressure weighed on select issues.
Market breadth was slightly negative, with decliners edging out advancers at 99 to 93. This reflected cautious sentiment among investors.
On the index level, Semirara Mining and Power Corp. emerged as the day’s top performer. Its shares climbed 2.18 percent to P30.50, buoyed by bargain hunting.
Meanwhile, DigiPlus Interactive Corp. was the main laggard, tumbling 3.66 percent to P15.80, after profit-taking hit the stock.
The latest session suggests investors are becoming more selective after the PSEi’s recent climb.
