PSEi slightly up on last-minute bargain hunting, peso flat

By Anna Leah Gonzales

March 27, 2024, 5:10 pm

<p><em>(PNA file graphics)</em></p>

(PNA file graphics)

MANILA – The local bourse gained 5.36 points on last-minute bargain hunting while the peso moved sideways during trading on Wednesday, the last trading day before the Holy Week holidays.

The Philippine Stock Exchange index closed at 6,903.53 while All Shares also gained 8.96 points to close at 3,607.51.

"The local bourse gained by 5.36 points (0.08%) to 6,903.53 on last-minute bargain hunting," Philstocks Financial Inc. analyst Claire Alviar said.

"The market mostly traded in the red following the negative cues from the US markets overnight, while maintaining a cautious stance ahead of the long weekend. But still, investors took the chance to buy at bargain levels," Alviar said.

Most sectors were in the red, with the Services having the biggest loss of 0.76 percent, followed by Properties which went down by 0.27 percent.

The banking sector gained the most, increasing by 1.00 percent.

Advancers led decliners at 102 to 81, while 58 shares were unchanged.

Meanwhile, the peso moved sideways, closing at 56.24 to a dollar from 56.32 on Tuesday.

It opened at 56.28 and traded at 56.18 to 56.329.

The weighted average for the day stood at 56.26.

Total volume of trade went down from USD1.55 billion on Tuesday to USD1.17 billion on Wednesday. (PNA)