Stocks down on cautious sentiment, peso down

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    Share prices ended flat Wednesday as investors looked for strong leads to trade the market.

    The Philippine Stock Exchange index (PSEi) was down 1.56 points to 5,892.72, a 0.03 percent drop.

    The broader all shares index was up 1.21 points to 3,545.14, a 0.03 percent hike.

    Gainers narrowly edged losers 92 to 90 with 56 stocks unchanged. Trading turnover reached P4.45 billion.

    The peso closed at 48.47 to the dollar, down from 48.46 on Tuesday.

    The currency opened at 48.52 and hit a high of 48.465 and a low of 48.54. Trading turnover reached $580.05 million.

    Stockbroker SB Equities Inc. said the market traded “in a lackluster session as persistent concerns over an economic recovery kept sentiment cautious.”

    “Despite the country reporting the least amount of fresh coronavirus cases in fifteen days and Wall Street rebounding overnight, risk appetite was again muted as the PSEi trekked within a tight 27 point range all session,” SB Equities said.

    Most actively traded SM Investments Corp was down P2 to P885. Now Corp. was down P0.18 to P3.10. SM Prime Holdings Inc. was down P0.05 to P29. MerryMart Consumer Corp. was up P0.14 to P3.14.

    BDO Unibank Inc. was up P0.10 to P88.40. PLDT Inc. was up P3 to P1,385. Ayala Land Inc. was down P0.20 to P29.80. Jollibee Foods Corp. was up P5.60 to P138.10. Ayala Corp. was down P5 to P715. International Container Terminal Services Inc. was down P2.90 to P105.10.