PH Stocks Wipe Gains, Slide to 6700 Level

ScreenShot009Manila—(PHStocks)—As expected and as it always have been, the record-high levels reached by the stock market prompted profit-taking across the board Thursday, 7 March, wiping out gains made yesterday.

The benchmark Philippine Stock Exchange index (PSEi) went down by 1.61% or 110.08 points to close today’s trading at 6,725.13. All counters are in the red, with the Property sector shedding the most at 3.03% as investors cashed in on their gains amid the sector’s 2.86% surge yesterday. The Financials came in second, losing 1.78%, while the Services sector slid by 1.61%.

Value turnover was particularly high, reaching PhP23.87 billion on 2.515 billion shares traded. There were 58 gainers and 109 losers, while 37 were flat.

Below are the biggest gainers today:

Below, meanwhile, are the biggest decliners:

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