Profit Taking Pulls Back PH Stocks to 6300

Manila—(PHStocks)—Philippine stocks succumb to profit taking Monday, 8 July, as investors cashed in on their gains amid the market recovery last week. The benchmark Philippine Stock Exchange (PSE) index slid by 2.79% or 181.57 points to close the day’s trading at 6,318.91.

All counters are back in the red. The biggest loser is the Holding Firms index, which dropped by 3.34%. The Industrials slid by 3.04%, while the Property sector shed 2.59%. The wider All Shares index declined by 2.47%.

Trading continued to be slow. Total value turnover only reached PhP5.5 billion on 1.48 billion shares traded. According to PSE, foreign buying reached PhP3.08 billion while foreign selling was PhP3.71 billion. There were 33 gainers today against 122 losers, while 34 stocks were flat.


Today’s most active stocks are Ayala Land Inc. (ALI, PhP29.00, -3.17%), SM Investments Corporation (SM, PhP851.00, -4.38%), SM Prime Holdings Inc. (SMPH, PhP16.50,-1.79%), Metropolitan Bank & Trust Company (MBT, PhP108.00,-3.23%), Alliance Global Group Inc. (AGI, PhP24.25,-2.41%), Philippine Long Distance Telephone Co. (TEL, PhP2,828.00,-1.05%), Ayala Corp. (AC, PhP573.00,-4.26%), Megaworld Corporation (MEG, PhP3.28,-1.8%), Metro Pacific Investments Corporation (MPI, PhP5.04,-3.63%) and BDO Unibank Inc. (BDO, PhP84.95,-2.24%).

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