Stocks, peso down ahead of BSP policy meeting

By Anna Leah Gonzales

September 18, 2023, 7:00 pm

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

(PNA file graphics)

MANILA – The benchmark Philippine Stock Exchange (PSEi) shed 1.77 points to close at 6,124.57 on Monday night.

Broader All Shares dropped 10.94 points to 3,309.24 level.

"Philippines shares traded quietly to start the week, as investors await the main event this week, which is the Monetary Board's policy-setting meeting on September 21," said Regina Capital Development Corp. head of sales Luis Limlingan.

"The street widely expects that the BSP will keep the benchmark rate steady at 6.25 percent," he added.

Half of the sectors ended in the negative territory led by Mining and Oil which fell by 89.53 points.

It was followed by Financials which declined by 13.12 points and Services which went down by 4.22 points.

Property, Holding Firms, and Industrial meanwhile went up by 10.18 points, 6.01 points, and 2.51 points, respectively.

Losers outnumbered gainers at 121 to 58, while shares of 52 listed firms were unchanged.

The peso meanwhile finished at 56.86 against the US dollar from a 56.81 close from the previous day.

It opened the day at 56.8 from Friday's 56.78.

The currency pair traded between a low of 56.74 to a high of 56.87 for the greenback.

The total volume of trade declined to USD 821.1 million from USD 1.05 billion in the previous trading. (PNA)