MANILA – The local stock barometer ended Friday in the negative territory due to concerns over the pandemic and the impact of Typhoon Ulysses, but the peso managed to finish sideways against the US dollar.
The Philippine Stock Exchange index (PSEi) dipped by 0.77 percent, or 54.38 points, to 6,969.88 points.
All Shares also contracted by 0.47 percent, or 19.25 points, to 4,083.55 points.
It was, however, mixed among the sectors but most of them tracked the main gauge.
The Financials index lost 1.59 percent; Holding Firms, 1.49 percent; Industrial, 1.33 percent; and Services, 0.88 percent.
On the other hand, Property rose by 1.46 percent and Mining and Oil by 0.22 percent.
Volume totaled nearly 1.8 billion shares amounting to PHP10.77 billion.
Gainers led losers at 119 to 85, while 54 shares were unchanged.
“Local shares ended the week lower as investors continued to deal with the rising number of (coronavirus disease 2019) Covid-19 cases and its potential economic impact. In addition, many investors remained on the sidelines to assess the damage brought about by Typhoon Ulysses,” said Luis Limlingan, Regina Capital Development Corp. head of sales.
“Ulysses” brought strong winds and torrential rains in several Luzon provinces, including the national capital, on Wednesday and Thursday, resulting in major flooding that reminded the metropolis of Typhoon Ondoy in 2009.
Meanwhile, the peso ended the day’s trade at 48.21 to the US dollar from 48.27 on Wednesday.
There was no trading on Thursday due to the suspension of work in government offices in “Ulysses”-affected areas, which was followed by some private companies.
The peso opened the day at 48.46 and traded between 48.46 and 48.2 for an average of 48.302.
Volume totaled USD669.1 million, higher than the previous session’s USD507.9 million. (PNA)
