PHILIPPINE STOCK EXCHANGE DOWN ON ALI PROFIT TAKING

12 mAY 2020 - Profit taking on Ayala Land, which experienced a weeklong buying run, and similar declines in  SM Prime and Puregold brought the PSE down a bit in today’s trading which hit P5.65 billion.

Investors in ALI cashed in their gains to bring the PSE index marginally down by 16.26 points or 0.29 % though 20 minutes before the shortened 1 pm trading, the PSE index was up by 0.43 points to 5,668.36 points.

SM Prime and Puregold also suffered declines with the PSE index having been weighed down as they respectively account for 8.10 % and 1.25% and together with ALI’s 8.31 % weight in the PSE composite index brought down the market sentiment.

Coincidentally,  ALI, SM Prime and Puregold were the top three most active shares traded today.

ALI transacted P1.029 billion, 19.1 % of the total value turnover with its share price going down by 4.5 % to P31.80 from its P33.30 close yesterday. It opened low at P32.85, went up to P33.15 and hit a low of P31.65 before going up a bit at the bell.

SM Prime had transactions of P510 million with its share price dropping by 3.43 % to close at P29.60 while Puregold shaved a peso from  its Monday close with value turnover of P339 million.

There were 87 gainers against 86 losers with 45 shares unchanged that shows a markedly hiked interest in the local stock market.