Published May 19, 2021, 4:09 PM
The local stock market ended flat on late buying after investors picked up shares sold down earlier in the session.
The main index inched up 0.97 points or 0.03 percent to close at 6,245.71 with only the Industrial sector advancing while the Financials counter held its ground.
Volume dropped to 1.56 billion shares worth P4.83 billion as gainers beat losers 115 to 82 with 47 steady.
“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 Regina Capital Development Corporation Managing Director Luis Limlingan.
He added that “Others remained on the sidelines after the media reported that the U.S. 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 vaccinations.“
Stocks drop on profit-taking mb.com.ph - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from mb.com.ph Daily Mail and Mail on Sunday newspapers.
The PSEi managed to start the week in the green, thanks to late buying that allowed it to recover from early losses.
The main index inched up 14.22 points or 0.23 percent to close at 6,283.58 with only the Financials and Holding Firms counters retreating.
Volume was weak with 2.3 billion share
Published May 12, 2021, 4:53 PM
The local stock market fell due to a number of concerns faced by investors at the local front and overseas.
The main index dropped 90.43 points or 1.43 percent to close at 6,236.40 with only the Financials sectors managing to stay positive.
Volume rose to 3.63 billion shares worth P6.2 billion as losers swamped gainers 141 to 55 with 50 unchanged.
“Philippine shares closed lower ahead of the holiday following the sentiment from the regional markets on concerns about rising inflation in the US and high valuations,” said Regina Capital Development Corporation Managing Director Luis Limlingan.
He added that, “Others reacted to the latest release of the MSCI rebalancing which indicated outflows from big index names.”
Stocks fall after US drop, GDP weakness mb.com.ph - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from mb.com.ph Daily Mail and Mail on Sunday newspapers.