SHARE prices ended lower Monday on profit-taking after recent market hikes.
The Philippine Stock Exchange index was down 135.46 points or by 2.57 percent to 5,131.16.
The broader all shares index down 75.19 points or by 2.34 percent to 3,144.31.
Losers edged gainers 134 to 49 with 37 stocks unchanged. Trading turnover reached P5.33 billion.
The peso closed at 50.96 to the dollar, up from 51 on Friday.
The currency opened at 51, hit a high of 50.85 and a low of 51.10. Trading turnover reached $315.35 million.
Luis Limlingan, managing director at Regina Capital Development Corp., said stocks fell sharply “giving back some of the strong gains experienced in the previous days to kick start what seems to be another volatile week.”
“Sentiment took a hit as investors focused back on COVID-19 outbreaks as the US became the country with the most confirmed cases. Italy reported a second straight daily decline in deaths, while Spain had a record number of fatalities for a third day in a row,” he said.
Most actively traded Ayala Land Inc. was steady at P31. Ayala Corp. was down P24 to P469. SM Prime Holdings Inc. was down P1.15 to P27.35. SM Investments Corp. was down P35 to P770. Metro Pacific Investments Corp. down P0.20 to P2.40. BDO Unibank Inc. was down P2.90 to P99.20. PLDT Inc. was steady at P1,070. Bank of the Philippine Islands was down P3.85 to P60.10. Megaworld Corp. was up P0.11 to P2.50. Puregold Price Club Inc. was down P3 to P36.
