Manila: Profit-taking again ruled the local bourse's trading on Tuesday, resulting in the main index's negative close, but the Philippine peso managed to gain against the US dollar.
According to Philippines News Agency, the Philippine Stock Exchange index (PSEi) declined by 0.17 percent to 6,304.03 points, and the broader All Shares fell by 0.24 percent to 3,427.04 points. Despite the overall decline, most of the sectoral gauges ended on a positive note, with Mining and Oil rising by 0.50 percent, Financials by 0.35 percent, Services by 0.18 percent, and Holding Firms by 0.01 percent. However, the Industrial and Property sectors experienced decreases of 1.24 percent and 0.73 percent, respectively.
The volume of shares traded reached 790.2 million, amounting to PHP6.67 billion. Decliners led advancers at 89 to 78, while 68 shares remained unchanged. Philstocks Research noted in a commentary that "last-minute profit-taking sent the local bourse lower, with investors still worried over the uncertainties between the US and Iran."
On the currency front, the local currency finished the day at 61.61, showing an improvement from its 61.67 finish on Monday. It opened the day at 61.70, a better start compared to the previous session's 61.76, and traded between 61.76 and 61.6, with the day's average standing at 61.67. The trading volume rose to USD1.16 billion from the previous session's USD990.68 million.
