Share prices ended lower Monday on profit-taking
The Philippine Stock Exchange index (PSEi) was down 78.07 points to 7,211.54, a 1.07 percent drop.
The broader all shares index was down 25.86 points to 4,436.84, a 0.58 percent drop.
Losers edged gainers 120 to 75 with 55 stocks unchanged. Trading turnover reached P5.57 billion.
The peso closed at 50.68 to the dollar, up from 50.786 on Friday.
The currency opened at 50.73 and hit a high of 50.68 and a low of 50.825. Trading turnover reached $923.4 million.
Japhet Tantiangco, analyst at Philstocks Financial Inc., said profit-taking continued to hit the market as inflation concerns weighed on sentiment given the elevated global oil prices.
“Trading remained lethargic with net value turnover posting P5.29 billion, below the year-to-date average of P7.30 billion,” Tantiangco said.
Foreign funds were net buyers worth P79.74 million.
Most actively traded Ayala Land Inc. was down P1.65 to P35.85. AC Energy Corp. was up P0.32 to P11.36. SM Prime Holdings Inc. was down P0.50 to P35.85. Converge Information and Communication Technology Solutions Inc. was up P1.20 to P32.10. Universal Robina Corp. was down P3.30 to P136.70. BDO Unibank Inc. was up P1 to P129. International Container Terminal Services Inc. was up P0.40 to P183.40. Globe Telecom Inc. was down P18 to P3,020. Monde Nissin Corp. was up P0.04 to P16.24. LT Group Inc. was steady at P10.22.
