PSE Index Down On Profit-Taking

The Philippine Stock Exchange (PSE) index today declined on profit-taking as investors locked in their gains as the market hit a new high but gainers were ahead of losers as the index closed 31.65 points or 0.46 percent down to 6,818.99 points.

Photo Insert: The Philippine Stock Exchange (PSE) Index, August 17, 2022

Investors pocketed their winnings on the way to the market's high of 6,850.64 points with blue chips that ended in the red hitting new highs.

Market bellwether SM Investments bucked the profit-taking as it ended P2 higher at P882 although it had a high of P887 while others were not as lucky. ICTSI rose to a high of P190.70 but closed at P186, down by P2, while Bank of PI, which closed P2.60 lower at P93, hit a high of P96.25.

Ayala Land went up to a high of P30.85 but ended at P29.40 down by 80 centavos while SM Prime went up to P38.20 but ended at P38, down by 15 centavos. Security Bank closed at P90.70 but had a high of P93.30.

Gainers were ahead of losers 117 to 94 with 34 shares unchanged with value turnover 30 percent higher at P8.04 billion.

Holding firms and mining and oil rose 0.43 percent and 1.32 percent respectively but the Financials went down by 0.70 percent, industrials by 0.88 percent, services by 0.73 percent, and property by 0.78 percent.

BDO Unibank emerged as the most active with trades of P887.8 million closing P2.80 higher or 2.36 percent to P128.20.

Among the gainers in the Top 20 active stocks were Systems Grid, which rose to P13, up by 24 centavos, Converge, up 26 centavos to P19.66, Globe, up p38 to P2,332, JG Summit, up 55 centavos to P56.15, and Semirara Mining, up 10 centavos to P44.10

The losers included Monde, which was down 26 centavos to P16.22, PLDT, down P47 to P1,708, Universal Robina, down P5 to P120, and Jollibee Foods, down P10.40 to P227, though it had a high of P235.

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