PSEi almost loses grip on 6,000 as market goes for caution

The benchmark Philippine Stock Exchange index (PSEi) pulled back further on Thursday but managed to stay above the 6,000 level ahead of the long weekend break.

By the session’s close, the PSEi was down 0.61 percent, or 36.72 points, to 6,005.40 while the broader all-shares index was down 0.51 percent, or 18.30 points, to 3,573.06.

All subsectors also closed in negative territory as investors stayed on the sidelines.

Mining and oil topped losses with a decline of 2.37 percent. Financials slid lower by 1.32 percent while the rest ended with losses below 1 percent.

A total of 1.5 billion shares valued at P4 billion changed hands on Thursday, data from the PSE showed. There were 132 losers against 64 gainers, while 46 companies closed unchanged.

SM Investments Corp. was the most actively traded for the session as it closed flat at P900 per share.

It was followed by BDO Unibank Inc., down 3 percent to P89.05; Universal Robina Corp., down 1.29 percent to P137.20; MerryMart Consumer Corp., up 3.5 percent to P3.25; and Jollibee Foods Corp., down 0.5 percent to P139.50 per share. —MIGUEL R. CAMUS