%20(3).png){kind=small}
![TFD [LOGO] (10).png](https://static.wixstatic.com/media/bea252_c1775b2fb69c4411abe5f0d27e15b130~mv2.png/v1/crop/x_150,y_143,w_1221,h_1193/fill/w_179,h_176,al_c,q_85,usm_0.66_1.00_0.01,enc_avif,quality_auto/TFD%20%5BLOGO%5D%20(10).png)
PSE INDEX DOWN ON PROFIT-TAKING
- By The Financial District
- May 31, 2021
- 2 min read
After last week’s surge, The Philippine Stock Exchange (PSE) index lost ground today on profit-taking as foreign and local investors cashed in their gains following the six percent gain last week where the index neared the 6,700-point milestone and now closed at 6,656.88 points, down by a measly 46.02 points or 0.69 percent.
At one point, the index was even down almost 100 points, but a last-minute charge, by BDO Unibank, in particular, saw the financials posting a gain of 0.007 percent as other sub-sectors posted losses: industrials losing 0.58 percent, holding firms, down 0.30 percent, services, shaved by 1.14 percent, mining and oil, down 0.06 percent and property, losing 1.48 percent.
BDO Unibank ended the day P1.90 higher to P103.70 as it emerged the most active stock with trades of P551 million, of which P24 million were from foreign buying.
Ayala Land was the second most active stock as it posted a 10-centavo decline to P34.40 on trades of P440 million, while SM Prime, another property firm, lost 90 centavos to P36.
The third most active stock was Jollibee Foods which had P51 million in foreign buying that saw its share price hit P192.90, up by P1.90 though it surged to a high of P194 per share.
There was a positive sentiment in the market even with the profit-taking as net foreign buying amounted to P56 million on foreign buying of P2.547 billion and foreign selling of P2.491 billion and this could augur well for the IPO listing today of Monde Nissin.
Total value turnover was a low P5.356 billion with 85 gainers, 103 losers, and 57 shares unchanged.
Among the unchanged shares in the Top 20 active stocks were that of GT Capital which closed at P590 on trades of P71 million and Bank of PI with its share closing at P84 on trades of P75 million. Security Bank was down by P1 to P122 with P42 million in trade, of which foreign selling amounted to P24 million.
JG Summit had the biggest foreign buying of P65 million, but its share price dropped by a hefty P1.20 to P57 on total trades of P133 million, while market bellwether SM Investments declined by P10 to P970.
Globe had the biggest foreign selling at P64 million as it lost P5 to P1,806. AboitizPower dropped by 70 centavos to P22.70 although it went down to as a low as P22.40 on profit-taking, while Ayala Energy lost one centavo to P7.27.
