Share prices ended lower Tuesday as profit-taking continued.
The Philippine Stock Exchange index (PSEi) was down 60.85 points to 6,457.79, a 0.93 percent drop.
The broader all shares index was down 34.44 points to 3,953.81, a 0.86 percent drop.
Losers edged gainers 134 to 64 with 50 stocks unchanged. Trading turnover reached P6.1 billion.
The peso closed at 48.555 on Tuesday, up from 48.56 on Monday.
The currency opened at 48.55 and hita high of 48.525 and a low of 48.58. Trading turnover reached $451.9 million.
Chris Mangun, AAA Southeast Equities Inc. head of research, said the market closed “just a few points away from its 6,440 support level as selling pressure picked up.”
“The lack of positive catalysts has kept the sentiment subdued. Business restrictions are less restrictive under current MECQ (modified enhanced community quarantine) guidelines.
However, the constant rise of cases continue to spook investors,” he said.
“Prices are approaching levels that have attracted buyers just a few weeks ago which may attract buyers to come in,” Mangun added.
Most actively traded Ayala Land Inc. was down P0.75 to P33.30. Universal Robina Corp. was down P6.30 to P131. AC Energy Corp. was down P0.45 to P7.29. International Container Terminal Services Inc. was up P1.80 to P126.06. BDO Unibank Inc. was down P2.10 to P101.40. Metropolitan Bank and Trust Co. was down P1 to P43.70. SM Investments Corp. was down P2 to P970. Dito CME Holdings Corp. was down P0.42 to P10.60.
