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PSE Index Down On Profit-Taking
- By The Financial District
- Aug 6, 2021
- 2 min read
The Philippine Stock Exchange (PSE) index lost steam at the close after enjoying a slight gain going into the last 30 minutes of trade as profit-takers booked gains leading to a fractional drop of 7.36 points or 0.11 percent.
Photo Insert: The Philippine Stock Exchange (PSE) Index, August 6, 2021
Investors were picky buying shares with dividend announcements and positive prospects as the lockdown in the NCR Plus that will impact some of the listed companies started, resulting in the gainers being ahead of losers, 117 to 76, with 37 shares unchanged.
As a result, blue chips like Aboitiz Power, which was able to negotiate an agreement with IPs for the restart of its Bakun power plant, advanced by 25 centavos to P23.15, Globe, with its dividend pronouncement, went up by P6 to P1,985, and Converge gained a healthy 11.51 percent or P2.75 to close at P26.65 purely on broadband play, with trades of P907 million.
Market bellwether SM Investments was unchanged at P963. Other shares that were unchanged from their Thursday close were BDO Unibank at P111, and Megaworld at P2.71, Jollibee Foods lost P1.10 to P188.50 on fear of lower sales volume during the ECQ, while Ayala Energy was the most active stock with trades of P1.21 billion as it rose by 41 centavos to P9.15.
Among the top 20 stocks, which accounted for P5.03 billion of the total turnover of P6.578 billion that posted losses were Ayala Land, down 20 centavos to P32.30, Robinsons Retail, down P1.30 to P49, Emperador, which lost P1.32 to P13.60, and Ayala Corp, down P13 to P727.
The gainers included Metrobank, up 90 centavos to P46.70, ICTSI, up P7.10 to P184.10, PLDT, up P1 to P1,275, and Monde Nissin, up 40 centavos to P15.70.
Only the services sub-index and financials posted gains of 2.13 percent and 0.01 percent, respectively, while the losing indices were industrials, down 0.10 percent, holding firms, 0.06 percent, mining and oil, down 0.69 percent, and property, down 0.64 percent.
