PSEi ends 9-day winning streak

popular .

Free bleachers seats for Pacquiao’s last PBA game before Mayweather fight

Albay gov fumes at actor Xian Lim for rejecting promo shirt, book

#EdsaKaBa and freedom to express 'hugot' on Twitter

Piolo Pascual dishes out sarcasm in getting back at Instagram basher

Laughing in Mindanao

ISIS abducts 70 Christians in Syria

Redemption at the Oscars

Almonte’s journey: ‘Passing on the baton’

videos

PBA: Ginebra’s LA Tenorio comfortable on the floor with Emman Monfort

PBA: Agustin credits good defense, big men performance for win over Purefoods

PBA: Warner’s maturity big thing for Globalport, says coach Gonzales

Crime watchdog wants advisory body composed of bishops, inter-religious leaders

Former Tarlac Governor calls Aquino to resign

THE LOCAL stock market pulled back after a nine-day winning streak on Thursday, slipping below the 7,800 mark, as rich valuations attracted profit-taking.

The Philippine Stock Exchange index shed 79.67 points or 1.02 percent to close at 7,764.39.

The industrial and services counters led the day’s decline, both slipping by over 1 percent. Only the mining/oil counter firmed up.

Value turnover for the day amounted to P9.86 billion. There were 82 advancers which were edged out by 105 decliners while 39 stocks were unchanged.

Jollibee slipped by 2.77 percent and ICTSI likewise tumbled by 2.55 percent, leading the index lower. ALI and Bloomberry faltered by nearly 2 percent.

URC, SMIC, AGI and AC all declined by over 1 percent while BDO, EDC, PLDT, BPI, Metrobank and Megaworld also contributed to the day’s decline.

Outside of the PSEi, retail plays Puregold (-3 percent) and RRHI (-2.21 percent) were also hit by profit-taking.

Among the few that bucked the downturn were MPIC (+1.17 percent) and Semirara (+0.65 percent).

MPIC grew 2014 core profit by 18 percent to P8.5 billion. MPIC chair Manuel Pangilinan also announced a potential partnership between MPIC and Meralco for a $2-billion gas project in Luzon.

Dealers said the market was susceptible to profit-taking as many stocks have hit overbought levels.

Get Inquirer updates while on the go, add us on these apps:

Related Stories:

• Australia investigates ‘paedophile’ father in Thai baby scandal


• Bangladesh ferry owner faces charges in sinking


• Bangladesh ferry owner faces charges in sinking


• Bangladesh ferry owner faces charges in sinking


• Bangladesh ferry owner faces charges in sinking


• Bangladesh ferry owner faces charges in sinking


• Bangladesh ferry owner faces charges in sinking


• Bangladesh ferry owner faces charges in sinking

Complete stories on our Digital Edition newsstand for tablets, netbooks and mobile phones; 14-issue free trial. About to step out? Get breaking alerts on your mobile.phone. Text ON INQ BREAKING to 4467, for Globe, Smart and Sun subscribers in the Philippines.

Disclaimer: The comments uploaded on this site do not necessarily represent or reflect the views of management and owner of INQUIRER.net. We reserve the right to exclude comments that we deem to be inconsistent with our editorial standards.

To subscribe to the Philippine Daily Inquirer newspaper in the Philippines, call +63 2 896-6000 for Metro Manila and Metro Cebu or email your subscription request here.

Factual errors? Contact the Philippine Daily Inquirer's day desk. Believe this article violates journalistic ethics? Contact the Inquirer's Reader's Advocate. Or write The Readers' Advocate:

c/o Philippine Daily Inquirer Chino Roces Avenue corner Yague and Mascardo Streets, Makati City,Metro Manila, Philippines Or fax nos. +63 2 8974793 to 94

seo tools