The Philippine Stock Exchange index (PSEi) declined by 0.38 percent, or 30.32 points, to close at 7,842.28, while the broader All Shares index lost 0.04 percent or 2.13 points to settle at 4,643.20.
STAR/ File
Share prices retreat on profit taking
Richmond Mercurio (The Philippine Star) - December 27, 2019 - 12:00am

MANILA, Philippines — The stock market finished lower on its return from a Christmas holiday break as investors decided to take profits.

The Philippine Stock Exchange index (PSEi) declined  by 0.38 percent, or 30.32 points, to close at 7,842.28, while the broader All Shares index lost 0.04 percent or 2.13 points to settle at 4,643.20.

The PSEi was on a two-day rally prior to the Christmas break.

Analysts attributed yesterday’s decline on profit taking in a lackluster trading day.

It was a slow trading day for the market today as the market came from the Christmas holidays and also anticipated the coming long weekend for the new year,  Gabriel Jose Perez  of Papa Securities said.

Only two sectors were on a cheerful mood a day after Christmas–mining and oil which soared 2.20 percent, and financials which gained 0.61 percent.

Meanwhile, the property index took the biggest blow yesterday, plunging 1.20 percent, followed by holding firms which fell 0.35 percent.

Value turnover was thin at P3.60 billion. Market breadth, however, was positive as advancers edged out decliners, 105 to 81, while 50 stocks did not change.

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