PSEi hardly changed as wary investors stay on sidelines

The benchmark Philippine Stock Exchange Index (PSEi) ended lower on Monday as investors remained cautious, an analysts said.

By the closing bell, the PSEi was down 0.45 percent, or 31.8 points, to 6,959.21 while the broader all-shares index was down 0.36 percent, or 15.3 points, to 4,207.66.

“Investors are still taking a cautious approach, waiting on changes in government policies regarding mobility and business restrictions,” Chris Mangun, research head at stock brokerage firm AAA Equities, said in a note to investors.

“The main indices’ general trend is sideways and we expect it to continue that way in the immediate term,” he added.

Subsectors ended mixed on Monday with property, holding firms and mining and oil slipping into negative territory. Services, industrial and financial stocks gained.

A total of 18.7 billion shares valued at P19.3 billion changed hands on Monday.

There were 90 gainers against 125 decliners while 51 companies closed unchanged.

SM Investments Corp. was the most actively traded on Monday as it declined 0.75 percent to P1,060 per share.

It was followed up DITO CME Holdings Corp., down 1.69 percent to P17.40, Converge Information and Communications Technology Solutions Inc., rose 4.4 percent to P18.52, Transpacific Broadband Group International Inc., up 39.13 percent to P0.64, and Premier Horizon Alliance, down 2.36 percent to P2.9 per share.—Miguel R. Camus INQ