PSE Index Down On Profit-Taking

The Philippine Stock Exchange (PSE) index went down on profit-taking as blue chips were ramped up before a sell-down closing 16.19 points down or 0.23 percent to 7,107.8 points.

Photo Insert: The Philippine Stock Exchange (PSE) Index, October 12, 2021

Value turnover amounted to P9.74 billion with gainers ahead of losers, 100 to 87, with 65 shares unchanged as the mining and oil index rose by a hefty 3.19 percent on gains from Semirara Mining, which posted the biggest gain at 10.02 percent or up by P2.55 to P28 on news of a dividend declaration that meant over 10 percent in dividend yield hit a high of P28.35 before investors cashed in their gains

Monde, Wilcon, and Converge posted losses at the close, but not after hitting high price points that resulted in profit-taking.

Monde lost P1.28 to P17.70 on trades of P899 million but not after it hit a high of P18.96, while Wilcon Depot rose to as high as PP31.40 before closing at P28.65 losing P1.75 on trades of P870 million. Converge went up to P36.50 but it dropped to P34.95 to close down by P1.05.

Market bellwether SM Investments rose to just as high as its Monday close but it dropped to P999 for a P6 loss. Ayala Land went to a high of P36.50 before buckling down to P35.95 for a 5 centavo loss as Jollibee Foods was up by P9.40 to P217.80. DMCI Holdings, on the other hand, gained 74 centavos to P8.84.

The financials went up by 0.30 percent, the industrials by 0.60 percent, holding firms by 0.06 percent, and property rose by 0.27 percent, while the services sub index's loss of 1.86 negated the small gains in the other indices.

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