Share prices ended lower Thursday as investors took to profit-taking, tracking overseas leads.
The Philippine Stock Exchange index (PSEi) was down 44.03 points to 7,331.65, a 0.6 percent drop.
The broader all shares index was down 11.63 points to 3,952.90, a 0.29 percent drop.
Losers edged gainers 97 to 91 with 47 stocks unchanged. Trading turnover reached P7.25 billion.
The peso closed at 50.165 to the dollar, down from Wednesday’s 50.069.
The currency opened at 50.18, and hit a high of 50.13 and a low of 50.24. Trading turnover reached $1.14 billion.
Japhet Tantiangco, analyst at Philstocks Financial Inc., said the market extended its decline “as investors continued to take profits from its six-day rally which ended last Tuesday.”
“The market also took cues from Wall Street’s drop overnight caused by the US’ 6.2 percent inflation reading for October,” he said.
Most actively traded Synergy Grid and Development Philippines Inc. was up P0.60 to P13.20. Converge Information and Communication Technology Solutions Inc. was up P1.10 to P35. Universal Robina Corp. was down P2.90 to P131. Monde Nissin Corp. was down P0.28 to P16.60. AC Energy Corp. was up P0.14 to P12.28. Ayala Corp. was down P1 to P883. SM Investments Corp. was up P4 to P979. SM Prime Holdings Inc. was down P0.30 to P35.40. Metropolitan Bank and Trust Co. was down P0.70 to P51.60. JG Summit Holdings Inc. was down P1.95 to P50.05.
