PH Stocks Extend Declines

ScreenShot002Manila—(PHStocks)—Philippine stocks extended their declines Wednesday, February 27, as investors continue to cash in on their gains.

The market started the session on a positive note as most investors hunted for bargains after yesterday’s round of profit taking. By 9:35am, the benchmark Philippine Stock Exchange index (PSEi) was up by 0.72% to 6,678.63. However, this may have further sustained the trend to cash in on gains as the PSEi went into recess at 6,632.91, up by 0.03% or 2.24pts. The afternoon trading saw massive sell-offs as more investors lock in their gains, resulting in the PSEi closing today’s trading at 6,616.27, down by 0.22%.

On the other hand, the Mining and Oil index led the sectoral gainers, posting a strong 2.23% growth or 476.62pts. The Services segment likewise recovered from yesterday, albeit slightly, with a 0.47% gain. The Property index, meanwhile gained 0.35%.

Trading was heavy today, with value turnover reaching PhP10.22 billion. Volume of shares traded meanwhile hit 4.089 billion. There were 90 gainers against 76 losers, while 45 stocks didn’t move.

Below are today’s top gainers:

Below, meanwhile, are the top losers:

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