MANILA – The Philippine Stock Exchange index (PSEi) ended its six-day rally on profit-taking, while the peso closed sideways Tuesday.
The PSEi finished in the red territory, shedding 0.16 percent at 6,759.01, with All Shares inching up by 0.01 percent to 3,543.49.
“Investors booked gains ahead of the Federal Reserve’s meeting to avert risks regarding the Fed’s decision. The bourse struggled to have a clear direction early in the day before heavy selling occurred near the closing bell. This reflected the cautiousness of the investors throughout the session,” Philstock Financials, Inc. research and engagement officer Mikhail Plopenio said.
Sectoral indices were mixed. Those that ended in the green include Holding Firms, Services, and Industrial, while those that closed in the red were Property, Mining and Oil, and Financials.
Gainers led losers at 107 to 77, leaving 54 counters unchanged.
“Net market value turnover was quite strong at PHP5.07 billion, higher than the year-to-date average of PHP4.98 billion,” Plopenio added.
Meanwhile, the peso closed sideways with 0.08 losses to 57.76 to the US dollar from 57.68 to the greenback.
It opened the day strong at 57.60 from Monday’s kick-off at 57.75.
The currency pair traded between 57.45 and 57.77 to the dollar.
Trade volume reached USD1.89 billion, surging from USD1.46 billion on Monday. (PNA)
