PNA file photo
MANILA – The Philippine Stock Exchange index (PSEi) slipped on Monday, ending a three-day rally.
The local bourse shed 16.31 points, or 0.25 percent, to 6,631.25 level, with all shares also down by 4.19 points to 3,526.71.
Philstocks Financial, Inc. research associate Claire Alviar said last-minute profit-taking pushed the market down as investors were also waiting for President Ferdinand R. Marcos Jr.’s State of the Nation Address which would be crucial in shaping investors’ sentiments.
Holding Firms incurred the largest losses of 36.01 points ending at 6,406.83 level. This was followed by Industrial, down by 12.82 points to 9,298.21; Services, 8.73 points to 1,586.03; and Property, 1.58 points to 2,706.51.
“Given this, many stayed on the sidelines with the net market value turnover recording at PHP2.77 billion, lower than this month’s average so far of PHP3.93 billion,” Alviar said.
Losers led gainers at 114 to 73, with 41 counters recorded no changes.
Alviar cited Monday trading’s top performer was Alliance Global Group, Inc. with shares increasing by 2.4 percent, while Monde Nissin Corp. recorded the biggest drop of 3.26 percent.
Meanwhile, there was no trading in the peso-dollar foreign exchange markets. (PNA)
