MANILA — The Philippine Stock Exchange index (PSEi) fell 13.14 points to 6,398.77 on Monday (01 July 2024) due to profit-taking, ending a five-day rally. The broader All Shares index also dipped by 7.19 points to 3,479.47.
Claire Alviar, a research associate at Philstock Financials, Inc., noted that many investors stayed on the sidelines with a weak market turnover of PHP3.20 billion, as they awaited the June inflation data crucial for the Bangko Sentral ng Pilipinas’ interest rate decisions.
All sectors except banks, which rose 0.12%, saw declines, with Holdings experiencing the largest drop at 0.56%. Decliners outpaced advancers 103 to 83, with 53 issues unchanged.
The peso closed at 58.65 to the dollar, moving sideways from Friday’s 58.61 finish. It traded between 58.47 and 58.695 with a weighted average of 58.563. Total trade volume fell to USD920.83 million from USD1.1 billion last Friday.
(el Amigo/mnm)
