Stocks down on profit-taking, peso up slightly

By Anna Leah Gonzales

November 29, 2023, 6:45 pm

<p><em>(PNA graphics) </em></p>

(PNA graphics) 

MANILA – The local stock market ended the day in the negative territory while the peso closed slightly higher against the dollar on Wednesday.

The Philippine Stock Exchange index (PSEi) declined by 44.43 points to close at 6,265.14, while the broader All Shares also went down by 19.02 points to 3,339.68.

"Philippine shares succumbed to profit taking as investor(s) locked in gains before the end of November," Regina Capital Development Corp. head of sales Luis Limlingan said in a statement.

Almost all sectors closed in the red except for Services, and Mining and Oil which gained 4.04 points and 60.19 points, respectively.

Decliners led advancers at 106 to 70, while 34 shares were unchanged.

The peso, meanwhile, closed at 55.39 against the dollar on Wednesday, slightly stronger than the 55.4 finish on Tuesday.

It opened the day at 55.29 and traded at 55.28 to 55.4, resulting in an average of 55.328.

Volume of trade reached USD1.0 billion, down from the previous day's USD1.2 billion. (PNA)