MANILA – The local main equities index recovered on Friday amid investors’ decision to stay on the sidelines partly on rising domestic coronavirus disease 2019 (Covid-19) infections but the peso managed to end sideways against the greenback.
The Philippine Stock Exchange index (PSEi) gained 0.14 percent, or 9.37 points, to 6,728.55 points.
All Shares gained by 0.23 percent, or 9.15 points, to 4,059.58 points.
Half of the sectoral indices gained – Holding Firms, 0.40 percent; Industrial, 0.26 percent; and Property, 0.09 percent.
On the other hand, the Mining and Oil index slipped by 0.64 percent, Financials by 0.31 percent, and Services by 0.14 percent.
Volume totaled 3.41 billion shares amounting to PHP6.87 billion.
Gainers led losers at 108 to 99, while 60 shares were unchanged.
“Local shares closed flat on thin volumes as investors went on a wait and see mode as Metro Manila mayors have agreed to impose unified curfew in their respective jurisdiction for two weeks,” said Luis Limlingan, Regina Capital Development Corp. head of sales.
The curfew will be imposed starting March 15, from 10 p.m. to 5 a.m., to help address the rising Covid-19 infections in the National Capital Region, with the recent daily reports hitting more than 2,000 and even 3,000 levels.
Meanwhile, the local currency finished the trade at 48.455 from 48.50 on Thursday.
It opened the day at 48.44, better than its 48.57 start in the previous session, trading between 48.38 and 48.50 and resulting in an average of 48.435.
Volume totaled USD913.73 million, higher than the previous day’s USD792.65 million. (PNA)
