PSEi loses 0.42%, closes below 8,000
The local stock barometer slipped below 8,000 on Friday as investors pocketed gains from the recent run-up.
The main-share Philippine Stock Exchange index (PSEi) slipped by 33.59 points or 0.42 percent to close at 7,967.98. Regional markets were mixed.
At the local market, the index hit an intra-day high of 8,077.51 but closed at the intra-day low.
For the week, the PSEi gained 99.7 points or 1.3 percent.
The PSEi was weighed down most by the property counter, which fell by 1.04 percent. The holding firm counter also dipped by 0.99 percent.
On the other hand, the financial, industrial, services and mining/oil counters firmed up.
Value turnover for the day amounted to P8.17 billion. There was net foreign selling worth P68.2 million.
There were 102 advancers which slightly edged out 100 decliners, while 50 companies were unchanged.
The PSEi was led higher by ICTSI, which rose by 3.64 percent.
BDO, Megaworld and Puregold all gained by more than 2 percent, while URC, GT Capital and BPI added 1 percent.
Jollibee and Globe Telecom also gained.
Outside of PSEi stocks, notable gainers included cement-makers Cemex and Holcim Philippines, which respectively rose by 5.99 percent and 4.68 percent. This was on expectation that the bidding for Holcim’s Philippine assets would be concluded soon.
On the other hand, SM Prime fell by 2.15 percent, while Ayala Land, SM Investments, PLDT, JG Summit and Security Bank all lost over 1 percent.
Metrobank, Ayala Corp. and Metro Pacific also slipped.
Subscribe to INQUIRER PLUS to get access to The Philippine Daily Inquirer & other 70+ titles, share up to 5 gadgets, listen to the news, download as early as 4am & share articles on social media. Call 896 6000.