SHARE prices rose again to another year-high on Thursday despite profit-taking limiting its climb.
The benchmark Philippine Stock Exchange index (PSEi) gained 8.27 points to close at 8,045.78 points, the highest it achieved for the year.
The main index already reached 8,106.74 points as investors decided to pocket their gains. The last time the main index reached the level was on April 7, 2015, when it closed at 8,098.68.
“Local shares traded on a slightly positive note based on new highs, with the Dow Jones increasing 0.5 percent after the US Federal Reserve kept interest rate unchanged, as widely expected, and signaled that inflation remains persistently below its target,” said Marita Limlingan, president of Regina Capital and Development Corp.
This is the highest close of the PSEi since August 10, 2016, when it ended at 8,051.40. Analysts said the market will continue to try to reach its all-time closing high of 8,127.48 in April 10, 2015.
A total of 1.96 billion shares worth P7.13 billion were traded.
Decliners edged out gainers 115 to 94, and 53 shares were unchanged.
Most of the subindices also ended higher, but the gains were marginal. The All Shares index rose 1.78 to 4,781.58, the Financials index gained 3.71 to 1,961.22 and the Industrial index climbed 39.87 to 11,157.77, but the Property index dropped 26.62 to 3,837.43 and the Services index shed 6.58 to 1,696.17.
Ayala Land Inc. was the day’s most active, but it lost P0.65 to P43.30, SM Investments Corp. gained P12 to P800, SM Prime Holdings Inc. dropped P0.10 to P34.65, Universal Robina Corp. rose P0.90 to P159.90 and Megaworld Corp. added a marginal P0.01 to P4.99.