MANILA — The Philippine Stock Exchange index (PSEi) experienced minimal movement, slipping by 0.01 percent or 0.52 points to settle at 6,520.75 points on Wednesday (20 Dec 2023).
In contrast, the broader All Shares index edged up by 1.70 points, reaching 3,434.41.
Philstocks Financial, Inc.’s Assistant Research Manager, Claire Alviar, noted that the marginal decline in the local bourse was influenced by investors capitalizing on recent market gains, while actively seeking new catalysts to propel the market upwards.
Sector performances displayed a mixed picture, with gainers led by Mining and Oil, followed by Holding Firms and Services. Conversely, Industrial, Financials, and Property sectors found themselves in negative territory.
Despite the overall market dip, foreign investors remained net buyers, contributing to a net inflow of PHP166.8 million, and a robust net market value turnover of PHP5.3 billion.
Advancers outnumbered decliners, with 96 gaining against 89 declining, while shares of 42 firms remained unchanged.
In the currency market, the Philippine peso exhibited strength, rebounding by 0.20 to close at 55.75 against the US dollar, compared to the previous day’s finish at 55.95. The peso opened slightly weaker at 55.85 but traded within the range of 55.73 to 55.90, with an average level of 55.81 throughout the day.
Trade volume witnessed an increase, totaling USD1.59 billion compared to the previous day’s volume of USD1.3 billion.
(IAmigo/MNM)
