Share prices ended lower Thursday on profit- taking.
The Philippine Stock Exchange index (PSEi) was down 37.94 points to 6,547.27, a 0.58 percent drop.
The broader all shares index was down 17.02 points to 4,042.57, a 0.42 percent drop.
Losers edged gainers 108 to 80 with 34 stocks unchanged. Trading turnover reached P4.76 billion.
After the trading closed, the PSE said it is revising its bellwether index, adding AC Energy and Converge Information and Communication Technology Solutions Inc. (Converge ICT) to the PSEi vice DMCI Holdings Inc. and Emperador Inc., effective Aug. 16, 2021.
The sectoral indices will also see Rizal Commercial Banking Corp. removed from the Financials index; the inclusion of Alsons Consolidated Resources in the Industrial index while EEI Corp., Shakey’s Pizza Asia Ventures Inc. and Phoenix Petroleum Philippines Inc. are removed; AbaCore Capital Holdings Inc. taking the slot of Lopez Holdings Corp. in the Holding Firms index; and Arthaland Corp. and D.M. Wenceslao & Associates Inc. removed from the Property index.
The Services index, meanwhile, will have Converge ICT and Premier Horizon Alliance Corp. as part of its list vice STI Education Systems Holdings Inc. and Harbor Star Shipping Services Inc.; while Atlas Consolidated Mining & Development Corp., Marcventures Holdings Inc. and Oriental Peninsula Resources Group Inc. will become members of the Mining and Oil index while Century Peak Holdings Corp. will be deleted.
The peso closed at 50.235, down from 49.75 on Wednesday. It opened at 49.83, hitting a high of 49.76 and a low of 50.37. Trading turnover reached $1.47 billion.
SB Equities Inc. said the market pulled back “to take a breather from a three-day bounce off two-month lows as investors digested July headline inflation of 4 percent in-line with house and market forecasts, and further corporate earnings results.”
“Despite foreign inflow extending to four days, profit taking on stocks that had outperformed week-to-date and cautiousness ahead of the start of Metro Manila’s hard two-week lockdown saw the PSEi retreating,” it said.
Most actively traded International Container Terminal Services Inc. was up P2.20 to P177.
AC Energy was up P0.26 to P8.74. Ayala Land Inc. was down P0.80 to P32.50. BDO Unibank Inc. was down P1.90 to P111. SM Prime Holdings Inc. was down P1.10 to P32.95.
Megaworld Corp. was down P0.09 to P2.71. Bank of the Philippine Islands was up P0.65 to P83.80. SM Investments Corp. was down P1 to P963. Converge ICT was steady at P23.90.
Universal Robina Corp. was up P2.30 to P137. – Ruelle Castro
