Published June 3, 2021, 4:27 PM
The local stock market declined as investors stepped on the brakes to pocket some gains from the surge in past days.
The main index dropped 49.82 points or 0.73 percent to close at 6,791.87 as the Property sector led the retreat although the Mining and Oil counter posted strong gains while the Industrial sector held its ground.
Volume rose to 3.7 billion shares worth P18.78 billion mainly due to special block sales as gainers beat losers 114 to 86 with 51 unchanged.
“Philippine shares finally succumbed to profit taking after successive days in the green as investors refocused on the US with the release of the Beige Book which showed that the economy grew moderately in April and May, as consumer spending and manufacturing activity picked up despite supply bottlenecks,” said Regina Capital Development Corporation Managing Director Luis Limlingan.
Stocks end sideways, peso flat visayandailystar.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from visayandailystar.com Daily Mail and Mail on Sunday newspapers.
Local share prices rallied due to favorable developments at home and overseas.
The PSEi surged 214.26 points or 3.23 percent to close at 6,841.69 as share prices rose across the board with the Property and Holding Firms counters leading the charge.
A hefty 1.9 billion shares worth P9.51 billio
Published June 1, 2021, 5:15 PM
The local stock market ended flat Tuesday, June 1 after a weak start as the listing of Monde Nissin’s shares failed to spark a rally.
The main index shed 1.06 points or 0.02 percent to close at 6,627.43 as the Mining and Oil counter led the retreat while the Financials and Property sectors advanced.
Volume rose to 4.08 billion shares worth P14.78 billion, boosted by trades in MONDE shares worth P3.2 billion as well as block sales of around P7 billion. Gainers actually outpaced losers 107 to 101 with 41 unchanged.
“Philippine shares closed flat to start the month of June with investors awaiting the US equity market to resume from the Memorial Day weekend, while most of the focus today was on the IPO of Monde Nissin,” said Regina Capital Development Corporation Managing Director Luis Limlingan.
The local stock market dropped after investors locked in gains from last week’s rally amid uncertainty whether quarantine measures will be eased or tightened.
The main index lost 46.02 points or 0.69 percent to close at 6,628.49 with only the Financials sector mamaging to hold its ground.
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