PH Stocks Down for Second Session on Profit Taking

Arrow graph going downManila—(PHStocks)—Philippine stocks are down for the second day Tuesday after hitting record highs as investors continue to cash in on their gains. The mainboard Philippine Stock Exchange (PSE) index was down by 1.33% or 91.16 points to 6,748.43 – shedding nearly half of what it gained last week after Fitch Ratings gave the country its first-ever investment grade rating.

Profit taking was widespread across all sectors. The Mining and Oil index declined the most, losing 2.64%, while the Financials index dropped by 1.88%. The wider All Shares index, on the other hand, slid just by 0.97%.

Value turnover reached PhP7.549 billion on 2 billion shares traded. There were 56 gainers and 97 losers, while 41 stocks were flat. The most active stocks today in terms of value are Ayala Land Inc. (PSE: ALI), Alliance Global Group Inc. (PSE: AGI), SM Investments Corporation (SMIC, PSE: SM), Philippine Long Distance Telephone Co. (PLDT, PSE: TEL), and San Miguel Corporation Series “2” Preferred Shares – Subseries “2-A” (PSE: SMC2A).

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Below are the day’s biggest gainers:

Below are the biggest losers:

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