Stocks index slips; peso almost unchanged

Stocks index slips; peso almost unchanged

MANILA – The Philippine Stock Exchange index (PSEi) ended Tuesday on the negative territory while the peso sustained its sideways close against the greenback.

After a three-day rally, the main stocks index shed 0.64 percent, or 46.68 points, to 7,258.11 points.

All the other counters tracked the main gauge, with the All Shares down by 0.81 percent, or 35.57 points, to 4,337.76 points.

Financials index posted the biggest drop among the sectors at 1.48 percent and was trailed by the Mining and Oil declining by 1.28 percent; Industrial, 1.21 percent; Services, 1.004 percent; Property, 0.66 percent; and Holding Firms, 0.11 percent.

Volume reached 41.52 billion shares amounting to PHP9.74 billion.

Losers led gainers at 144 to 86, while 40 shares were unchanged.

“Local shares closed lower once again amid valuation concerns and the outlook for more Covid-19 (coronavirus disease 2019) relief stimulus, along with ongoing political turmoil,” Luis Limlingan, Regina Capital Development Corporation head of sales, said, referring to the impact of developments in the US.

Meanwhile, the peso ended the day at 48.051 from 48.1 a day ago.

It opened the day at 48.08 and traded between 48.09 and 48.045.

The average level for the day stood at 48.066.

Volume totaled to USD476.25 million, higher than the PHP451.2 million a day ago. (PNA)

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