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Stocks, peso almost unchanged on wait-and-see stance

Both the local main equities index and the peso ended Tuesday sideways as investors took on a wait-and-see stance partly on developments in the US. 

The Philippine Stock Exchange index (PSEi) shed 0.07 percent, or 4.99 points, to 7,198.45 points.

All Shares gave up 0.04 percent, or 1.56 points, to 4,319.74 points.

Most of the sectoral gauges finished the day in the negative territory, led by the Industrial, which fell by 1.74 percent.

Services slipped by 1.05 percent, Property by 0.41 percent, and Mining and Oil by 0.29 percent. 

On the other hand, Holding Firms rose by 0.89 percent and Financials by 0.06 percent. 

Volume totaled 144.4 billion shares amounting to PHP16.03 billion. 

Decliners led gainers at 115 to 114, while 44 shares were unchanged.

“Local shares traded mostly negative intraday before closing flat without many catalysts and ahead of (US President) Joe Biden’s presidential inauguration,” said Luis Limlingan, Regina Capital Development Corporation head of sales.

Meanwhile, the peso ended the day at 48.078 from 48.075 a day ago. 

It opened the day at 48.06, almost unchanged from its 48.08 start in the previous session. 

It traded between 48.082 and 48.055, resulting in an average of 48.069. 

Volume totaled USD650.6 million, higher than the previous day’s 418.7 million. (PNA)

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Written by insidermaniladesk

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