Stocks, peso down

    1163

    Share prices ended lower Tuesday as investors took to profit- taking on risk-off temperament.

    The Philippine Stock Exchange index (PSEi) was down 13.82 points to 5,923.23, a 0.23 percent drop.

    The broader all shares index was down 2.68 points to 3,569.14, a 0.09 percent drop.

    Gainers edged losers 98 to 95 with 59 stocks unchanged. Trading turnover reached P5 billion.

    The peso closed at 48.535 to the dollar, down from 48.47 on Monday.

    The currency opened at 48.57 and hit a high of 48.50 and a low of 48.62.

    Trading turnover reached $821.6 million.

    Japeth Tantiangco, analyst at Philstocks Financial Inc., said the decline was partly a result of “economic worries as the 2021 national budget remains at risk of delay due to the turmoil at the House of Representatives.”

    “Net foreign selling amounting to P702.1 million also contributed to Tuesday’s decline. Net foreign selling is already on a 23-day streak averaging P719.1 million per day,” he said.

    Most actively traded MerryMart Consumer Corp. was up P0.10 to P3.10. Dito CME Holdings Corp. was down P0.20 to P5.96. International Container Terminal Services Inc. was down P0.30 to P119.70. Ayala Land Inc. was up P0.15 to P29.50. PLDT Inc. was up P4 to P1,296. Metro Paicific Investments Corp. was down P0.11 to P3.76.

    Cemex Holdings Philippines Corp. was down P0.07 to P1.60. Metropolitan Bank and Trust Co. was up P0.05 to P40.05. Universal Robina Corp. was down P0.80 to P133.80. SM Investments Corp. was down P16 to P884.