Shares down on thin trade, peso up

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    Share prices ended lower Tuesday as investors looked for strong leads to trade the market.

    The Philippine Stock Exchange index (PSEi) was down 19.79 points to 5,841.60, a 0.34 percent drop.

    The broader all shares index was down 9.88 points to 3,521.10, a 0.28 percent drop.

    Losers edged gainers 109 to 88 with 52 stocks unchanged. Trading turnover reached P5.67 billion.

    The peso closed at 48.50 to the dollar, up from Monday’s 48.51.

    The currency opened at 48.45 and hit a high of 48.44 and a low of 48.50. Trading turnover reached $536.21 million.

    Luis Limlingan, managing director at Regina Capital and Development Corp., said the market “closed weaker on low volume once again with investors getting ready for the quarter-end window- dressing Wednesday.”

    “Others remained on the sidelines (waiting) for a new deal on the US fiscal stimulus and several corporate deals being struck. Overnight US extended strength with financials and industrial sectors among the strong performers,” Limlingan added.

    SB Equities Inc. meanwhile said the market also digested the government’s announcement that Metro Manila will remain under the current coronavirus quarantine measures till the end of October.

    Most actively traded Dito CME Holdings Corp. was up P0.50 to P4.99. Metropolitan Bank and Trust Co. was up P0.50 to P38.75. BDO Unibank Inc. was up P0.05 to P86.50. Jollibee Foods Corp. was up P5.70 to P144.80. AREIT Inc. was up P0.10 to P25.70. PLDT Inc. was down P8 to P1,353. Ayala Land Inc. was down P0.35 to P29.45. Metro Pacific Investments Corp. was down P0.02 to P3.48. Now Corp. was up P0.12 to P3.32. Universal Robina Corp. was up P0.20 to P134.