Profit Taking Grips PH Stocks Anew

PSE-1MarManila—(PHStocks)—After reaching a new record high yesterday amid late surge in stock buying, in particular that of BDO Unibank Inc. (PSE: BDO) and SM Investments Corporation (SMIC, PSE: SM) shares, the Philippine Stock Exchange index (PSEi) succumbed to a new round of widespread profit-taking – shedding 1.18% or 79.18 to close the first trading day of March at 6,642.27.

All counters were down today, led by the Industrial sector, which lost 2.64%. The Mining and Oil segment retreated, ending its rally with a 1.37% decline, while the Holding Firms index shed 0.93%.

Trading continued to be heavy, with value turnover reaching PhP10.93 billion on 3.08 billion shares traded. There were 72 gainers against 93 losers, while 45 stocks remained flat.

Below are the biggest gainers for the day:

The biggest decliners are as follows:

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