Selling pressures resulted in the negative close of the local bourse’s main index on Tuesday, but the peso maintained its footing against the US dollar.
The Philippine Stock Exchange index shed 0.18 percent to 6,277.67 points, and the broader All Shares by 0.09 percent to 3,737.90 points.
Most of the sectoral gauges tracked the main index, led by Services after it slipped by 1.22 percent.
It was followed by Industrial, 0.41 percent; Property, 0.22 percent; and Financials, 0.19 percent.
On the other hand, Holding Firms rose 0.87 percent and Mining and Oil by 0.16 percent.
Volume rose to 1.02 billion shares, amounting to P7.6 billion.
Decliners led advancers at 101 to 86, while 63 shares were unchanged.
Luis Limlingan, Regina Capital Development Corporation head of sales, said “the market was weighed down by selling pressure, as some investors may already be engaging in profit-taking.”
“At the same time, with no new catalysts in sight, others are likely adopting a more cautious stance while waiting for the next opportunity,” he added.
On the other hand, the local currency ended little changed against the US dollar after finishing the trade at 57.1 from its 56.96 close a day ago.
It opened the day flat at 57.05 and traded between 57.18 and 57. 01. The average stood at 57.10.
Volume increased to USD1.98 billion from the previous session’s almost USD1.5 billion.*PNA
