Profit Taking Pulls Back PH Stocks’ Rally

Manila—(PHStocks)—Philippine stocks ended in the red Monday, 14 October, as investors lock in their gains after the rally last Friday, 11 October.

The Philippine Stock Exchange index (PSEi) slid by 0.73% or 47.1 points to close the day’s trading at 6,442.7.

All counters were down, except for the Mining and Oil index, which further gained 0.13%. Leading the losers, meanwhile, was the Services sector, which dropped by 1%.

Sell-off was slow, however. Value turnover reached PhP4.02 billion on 1.16 billion shares traded. According to PSE data, foreign buying reached PhP2.06 billion while foreign selling was PhP2.16 billion. There were 51 gainers against 97 losers, while 42 stocks were flat.

PSE-14-10-13Most active stocks in terms of value include Philippine Long Distance Telephone Co. (TEL, PhP2,870.00, -1.03%), Metropolitan Bank & Trust Co. (MBT, PhP86.95, 0.12%), SM Prime Holdings Inc. (SMPH, PhP16.38, -1.8%), GMA Holdings Inc. (PDR) (GMAP): PhP7.40, NC), Universal Robina Corp. (URC, PhP120.90, -0.08%), SM Investments Corp. (SM, PhP843.00, -0.47%), Emperador Inc. (EMP, PhP11.26, 0.72%), Robinsons Land Corporation (RLC, PhP22.40, NC), Cosco Capital Inc. (COSCO, PhP11.02, -1.25%), and LT Group Inc. (LTG, PhP 18.10, -2.37%).

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