Tunis:The local stock market experienced a decline on Tuesday as investors took profits following a brief two-day rally. Meanwhile, the peso closed the day with minimal change against the U.S. dollar.

According to Philippines News Agency, the Philippine Stock Exchange index (PSEi) fell by 0.73 percent, closing at 5,701.54 points. The broader All Shares index also decreased by 0.62 percent to 3,183.35 points. All sectoral indices ended in negative territory, with Holding Firms and Services both dropping by 0.85 percent, followed by Financials at 0.80 percent, Property at 0.72 percent, Industrial at 0.54 percent, and Mining and Oil at 0.34 percent.

Trading volume reached 862.08 million shares, with a total value of PHP4.3 billion. The market saw more decliners than advancers, with 112 stocks falling, 77 gaining, and 59 remaining unchanged.

Rizal Commercial Banking Corporation chief economist Michael Ricafort attributed the PSEi's decline to "healthy profit-taking" after the recent rally. He also noted a reduction in foreign direct investment inflows, which fell to USD4.1 billion by the end of July compared to USD5.35 billion in the same period last year, as well as gains in U.S. equity markets.

The peso ended the day at 62.8 against the U.S. dollar, barely changed from its previous close of 62.76. It opened at 62.75, slightly weaker than the previous session's start of 62.65, and traded between 62.7 and 62.86, averaging 62.82 for the day. Trading volume amounted to USD1.02 billion, which was slightly lower than the USD1.06 billion recorded in the previous session.

Ricafort anticipates the peso to trade between 62.70 and 62.90 against the dollar on Wednesday.