MANILA – The Philippine Stock Exchange index (PSEi) slipped on Thursday, while the local currency traded sideways against the US dollar.
The PSEi finished the day at the 6,886 level after declining by 32.41 points from Wednesday’s trading.
All shares settled at 4,199.89 points, lower by 3.70 points.
“The local market fell as investors booked profits after two straight days of gains. Foreign investors strengthened the selling pressure with net outflows amounting to PHP912.22 million,” Philstocks Financial Senior Supervisor for Research Japhet Tantiangco said.
Except for the Financials and Industrial counters, other sectors closed in the negative territory.
The Financials index gained 3.26 points to the 1,491.35 level, while the Industrial index increased by 25.72 points to close at 9,505.06.
The biggest decline was recorded in the Mining and Oil counter, with the index closing at 9,266.95, shedding 113.25 points.
This was followed by Holding Firms, down by 57.11 points to 6,865.43; Property, down by 18.55 points to 3,393.63; and Services, down by 12.44 points to the 1,561.66 level.
Meanwhile, the peso ended the day gaining seven centavos to 48.74 from the previous day’s trading of 48.81 to the dollar.
It opened the day at 47.75 to the dollar and traded between 48.74 and 48.92, bringing the day’s average to 48.34.
Traded volume was lower by nearly USD100 million, with volume totaling USD1.01 billion. (PNA)
