MANILA – After a seven-day rally, the Philippine Stock Exchange index (PSEi) slipped Wednesday while the peso ended flat against the US dollar.
The main equities index contracted by 0.16 percent, or 11.22 points, to 7,024.26 points.
All Shares index rose by 0.16 percent, or 6.33 points, to 4,102.80 points.
Sectoral indexes were mixed but most ended the day’s trade higher.
Gainers were led by the Financials index, which rose by 1.65 percent.
It was trailed by Mining and Oil, 1.29 percent; Industrial, 1.20 percent; and Property, 0.60 percent.
Holding Firms declined by 1.63 percent and Services by 0.13 percent.
Volume totaled 2.24 billion shares amounting to PHP27.77 billion.
Advancers led decliners at 139 to 70 shares, while 49 shares were unchanged.
“Local shares ended mixed today as investors continued to rotate out of defensive stocks that thrived during the pandemic and into value stocks linked to economic recovery,” Luis Limlingan, Regina Capital Development Corporation head of sales, said.
Limlingan said the rebalancing of the MSCI Global Investable Markets Indexes (MSCI) in the local bourse, which will take effect on Nov. 27, also affected the day’s trading.
Meanwhile, the peso ended the day at 48.27 to a US dollar, similar to its close a day ago.
It opened the day’s trade at 48.35, weaker than its 48.24 start in the previous session.
It traded between 48.35 and 48.25, resulting in an average of 48.291.
The volume of trade reached USD507.9 million, lower than the USD710.6 million a day ago. (PNA)
