PH share prices drop
Most local stocks dropped for a second session Tuesday as investors continued to lock in gains from the recent rally.
The main-share Philippine Stock Exchange index shed 27.53 points, or 0.4 percent, to close at 6,786.42, tracking a similar correction seen by most markets in the region.
Most counters were in the red, but the steepest decline was incurred by
mining/oil (-1.7 percent).
Value turnover was heavy at P18.24 billion. There were twice as many decliners for every single gainer.
Bloomberry (-4.1 percent) succumbed to profit-taking after a steep rise ahead of its March 11 entry into the PSEi. JG Summit (-3.88 percent), Belle (-3.28 percent), Belle (-3.28 percent), Megaworld (-2.56 percent) and First Gen (-2.48 percent) also contributed to the decline.
PLDT, Ayala, ALI, MPI, BDO, SM Prime and URC also fell on Tuesday.
On the other hand, the day’s decline was tempered by gains eked out by SMIC, AGI, Metrobank, Petron and AP.—Doris C. Dumlao
Disclaimer: The comments uploaded on this site do not necessarily represent or reflect the views of management and owner of INQUIRER.net. We reserve the right to exclude comments that we deem to be inconsistent with our editorial standards.
To subscribe to the Philippine Daily Inquirer newspaper in the Philippines, call +63 2 896-6000 for Metro Manila and Metro Cebu or email your subscription request here.
Factual errors? Contact the Philippine Daily Inquirer's day desk. Believe this article violates journalistic ethics? Contact the Inquirer's Reader's Advocate. Or write The Readers' Advocate:
c/o Philippine Daily Inquirer Chino Roces Avenue corner Yague and Mascardo Streets, Makati City,Metro Manila, Philippines Or fax nos. +63 2 8974793 to 94