Profit-taking pulls mart down

After successive sessions of bargain hunting, local shares caved due to profit-taking — bringing the barometer Philippine Stock Exchange Index (PSEi) down by 31.65 points or 0.46 percent to 6,818.99 on Wednesday’s (17 August) close.

Turnover stood at P7.86 billion on closing. The sectors were mixed with miners and holdings as the remaining gainers, up by 1.32 percent and 0.43 percent, respectively.

The industrials lost the most by 0.88 percent.

Aboitiz Power Corp. was at the forefront, advancing 3.96 percent while Jollibee Foods Corp. was at the bottom, dropping 4.38 percent.

Philstocks Financial Inc. assistant manager for research and online engagement Claire Alviar said profit-taking dominated ahead of the interest rate decision of the Bangko Sentral ng Pilipinas.

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