MANILA – The local stock barometer ended Monday higher while the peso continued its sideways close against the US dollar as investors stayed at the sidelines partly due to developments in the US and the pandemic.
The Philippine Stock Exchange index (PSEi) rose by 0.36 percent, or 25.67 points, to 7,071.50 points.
All Shares increased by 0.21 percent, or 8.96 points, to 4,250.65 points.
It was a balance among the sectoral gauges, with Financials rising by 1.50 percent, Property by 1.15 percent, and Services by 0.31 percent.
On the other hand, the Mining and Oil index declined by 1.17 percent, Industrial by 0.80 percent, and Holding Firms by 0.16 percent.
Volume totaled 79.86 billion shares amounting to PHP9.11 billion.
Losers led gainers at 129 to 92, while 39 shares were unchanged.
“Investors resorted to bargain hunting as they weighed the outlook for (US) President (Joe) Biden’s nearly USD2 trillion stimulus bill and grew concerned amid reports that the new coronavirus variant may be deadlier,” Luis Limlingan, Regina Capital Development Corporation head of sales, said.
Meanwhile, the peso kept its footing and finished the day at 48.079 from 48.085 last Friday.
It opened the day flat relative to the previous session at 48.07.
It traded between 48.085 and 48.05, resulting in an average level of 48.067.
Volume totaled USD763.05 million, lower than the previous session’s USD1.09 billion. (PNA)
