The main index started the week strong with a 127.27-point increase on Monday but fell for two successive sessions. It gained close to 3.6 percent on Thursday and Friday due to improved sentiment.
Top losers, meanwhile, were Keppel Philippines Holdings Inc. B shares, Philippine Racing Club Inc., Jolliville Holdings Corp., Easycall Communications Philippines Inc., Apollo Global Capital Inc., PXP Energy Corp. and I-Remit Inc.Share prices may fall this week as many investors may pocket their gains during the previous week’s upward trajectory of the benchmark index.
Japhet Louis O. Tantiangco, senior research analyst at Philstocks Financials Inc., said the market may sustain its ground at the 6,800-point support level supported by optimism towards the local economy’s outlook coupled with tempered expectations on the Federal Reserve and the Bangko Sentral ng Pilipinas’ monetary tightening following the slowdown in US inflation.
These companies include SM Investments Corp. , Ayala Corp., GT Capital Holdings Inc. , Aboitiz Equity Ventures Inc. , DMCI Holdings Inc. and JG Summit Holdings Inc,.