PSEI ends 3-day climb, loses 0.55%

The local stock barometer ended a three-day upswing on Friday as investors pocketed recent gains when the index neared the 6,600 barrier.

The Philippine Stock Exchange index (PSEi) shed 36.37 points or 0.55 percent to close at 6,544.63, even as most markets in the region advanced.

Caution remains in the market amid rising cases of domestic coronavirus infection.

For the week, the PSEi added a total of 108.53 points or 1.7 percent.

On Friday, the market was weighed down most by the financial, holding firm and services counters, which all declined by less than 1 percent.

The mining/oil counter rose by 2.1 percent, while the industrial and property counters both added less than 1 percent.

Value turnover for the day amounted to P6.28 billion. There was P724.71 million worth of net foreign selling for the day.

There were 101 advancers that edged out 92 decliners, while 49 stocks were unchanged.

The PSEi was weighed down by Metrobank, BPI, ICTSI, Jollibee and Puregold, which all lost over 1 percent.

Ayala Land and SM Investments both declined by less than 1 percent.

Outside the PSEi, notable decliners included AbaCore and PHA, which fell by 6.61 percent and 5.38 percent, respectively, in heavy volume.

Newly-listed real estate investment trust DDMR shed 0.44 percent. Megaworld gained 3.19 percent, while SM Prime and PLDT firmed up by less than 1 percent.

One notable gainer outside the PSEi was PHES, which rallied by 7.95 percent. Dito and AC Energy both rose by less than 1 percent. —Doris Dumlao-Abadilla