Share prices ended lower Thursday on profit-taking.
The Philippine Stock Exchange index (PSEi) was down 76.22 points to 7,382.77, a 1.02 percent drop.
The broader all shares index was down 26.87 points to 3,906.20, a 0.68 percent drop.
Losers edged gainers 115 to 83 with 5 stocks unchanged. Trading turnover reached P6.75 billion.
The peso closed at 51.05 to the dollar, down from 51.045 on Wednesday.
The currency opened at 51, and hit a high of 50.92 and a low of 51.10. Trading turnover reached $1.05 billion.
SB Equities Inc. said the market retreated from it two-year highs “as traders looked to lock in some gains while awaiting Friday’s January inflation data and further corporate earnings results.”
“Although sentiment remained generally positive over the re-opening theme as local COVID (new coronavirus disease 2019) cases continued to decline, the urge to take profits at levels not seen since before the March 2020 pandemic plunge following a two-day rally saw the benchmark index trade modestly in the red for the bulk of the session before finishing on its low,” it said.
Most actively traded BDO Unibank Inc. was down P0.70 to P139. Solar Power Nueva Ecija Corp. was down P0.11 to P2.21. Globe Telecom Inc. was down P58 to P3,112. Converge ICT Holdings Inc. was down P0.90 to P29.60.
Monde Nissin Corp. was down P0.56 to P16. Ayala Land Inc. was down P0.35 to P36.65.
Figaro Coffee Group Inc. was up P0.01 to P0.91. Bank of the Philippine Islnds was down P0.85 to P99.75. Security Bank Corp. was up P1.40 to P111.40. Ayala Corp. was down P8 to P870.
