• The Financial District

PROFIT TAKING DOWNS PSE INDEX

The Philippine Stock Exchange (PSE) index today gyrated between a gain and a loss in a volatile run but profit taking took hold and erased 15.26 points or 0.21 percent to close at 7,242.85 points.

Starting with a fractional rise, the index went from green to red with selected stocks that included second liners, with total trades of P9.173 billion, 131 posting gains, 105 in the red and 37 shares unchanged.


The top three most active stocks were second liners Apollo Global, down P0.014 to P0.0235, with P1.006 billion; Premiere Horizon, down 44 centavos to P2.55 on trade of P750 million, and Ayala Energy, down 30 centavos to P6.20 with trades of P603 million.


Net foreign selling stood at P220 million on foreign buys and sell of P2.288 billion and P2.508 billion, respectively.


Save for mining and oil, which rose by 2.13 percent, and financials up 1.50 percent, all other counters were down.


Market bellwether SM Investments mirrored the day's volatile run as it went up to a high of P1.086 after opening at P1,068 and dropped to P1.052 before recovering to P1,079, up P11.


The same was true for SM Prime, which went from a high of P40.55 to a low of P39.30, it's closing price lower by 40 centavos.


BDO Unibank was towed to a 50 centavo gain to P111.50, helped by net foreign buying of P152 million, while URC lost P3.20 to P155 as net foreign selling hit P32 million.


Jollibee Foods, however, bucked the foreign selling of P31 million posting a 50 centavos gain to P199.50.


Market darling MerryMart also declined by 13 centavos to P7.14 while Converge also lost 4 centavos to P15.70.



WEEKLY FEATURE : JOSE MARI CHAN AND THE CHRISTMAS ANTHEM




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