PH Stocks Down for Second Day as Investors Lock in Gains

Arrow graph going downManila—(PHStocks)—Philippine stocks failed to sustain early session gains on Tuesday, 7 May, as investors embark on a second day of profit taking. The benchmark Philippine Stock Exchange (PSE) index slid by 0.34% or 24.53 points to 7,146.12 at the close of the trading day, failing to sustain the 43.79 points gained in the morning session.

All counters except for the Services index, which managed to pull in a 0.29% gain, are in the red. The Property sector lost 1.05%; the Mining and Oil sector dropped by 0.91%; and the Holding Firms segment declined by 0.64%. The wider All Shares index shed 0.41% as investors cash in on their gains across the board.

Trading was moderate, with value turnover reaching only PhP6.6 billion on 5.66 billion shares traded. There were 67 gainers and 112 losers, while 35 stocks were flat.

The top active stocks for the day include SM Investments Corporation (SMIC, PSE: SM), Alliance Global Group Inc. (PSE: AGI), Metro Pacific Investments Corporation (MPIC, PSE: MPI), Philippine Long Distance Telephone Co. (PLDT, PSE: TEL),  and Ayala Corp. (PSE: AC).

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The top gainers for the day are:

The top decliners for the day are:

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