MANILA – The Philippine Stock Exchange index (PSEi) recovered Wednesday as investors stayed on the sidelines while the peso ended the day sideways against the US dollar.
The main equities gauge rose by 0.02 percent, or 0.97 points, to 6,245.71 points.
All Shares increased by 0.14 percent, or 5.51 points, to 3,852.90 points.
However, most of the sectoral indexes ended the day in the negative territory namely the Property, 0.57 percent; Mining and Oil, 0.46 percent; Services, 0.20 percent; and Holding Firms, 0.09 percent.
On the other hand, Industrial index rose by 1.22 percent and Financials by 0.04 percent.
Volume reached 1.56 billion shares amounting to PHP4.83 billion.
Gainers led losers at 115 to 82, while 47 shares were unchanged.
“It was another quiet trading session in the Philippines after another bout of earnings results from major US retailers slightly cooled fears of high inflation,” said Luis Limlingan, Regina Capital Development Corporation head of sales.
Limlingan said some traders remained on the sidelines after the media reported that the US and Iran restarted talks on a deal that will restrict the latter’s nuclear weapons development.
“Investors also are still monitoring the progress of the Covid (coronavirus disease 2019) vaccinations,” he added.
Meanwhile, the local currency ended the day at 47.875 from 47.805 a day ago.
It opened the day at 47.81 and traded between 47.894 and 47.77.
Average level for the day stood at 47.83.
Volume totaled to USD947.25 million, higher than the previous session’s USD925.2 million. (PNA)
