PH Stocks Slip on Profit Taking

Manila—(PHStocks)—Philippine stocks took a dive Tuesday, 2 July, amid widespread profit taking after a four-day rally. The mainboard Philippine Stock Exchange (PSE) index slid by 1.2% or 78.44 points to close today’s trading at 6,448.18.

All counters were back in the red, led by the Industrials index, which lost 2.02%. The Services sector declined by 1.87%, while the Property segment declined by 1.67%. The wider All Shares index dropped by 0.69%.

Value turnover reached PhP8.2 billion, while volume of shares traded reached 1.047 billion. There were 71 gainers against 77 losers, while 50 stocks were flat.

The top most active stocks for today were SM Investments Corporation (SMIC, PSE: SM), Globe Telecom Inc. (PSE: GLO), Metro Pacific Investments Corporation (MPIC, PSE: MPI), Megaworld Corporation (PSE: MEG), Ayala Corp. (PSE: AC), SM Prime Holdings Inc. (PSE: SMPH), Philippine Long Distance Telephone Co. (PLDT, PSE: TEL), Alliance Global Group Inc. (PSE: AGI), Metropolitan Bank & Trust Company (Metrobank, PSE: MBT) and BDO Unibank Inc. (PSE: BDO).

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