Index ends flat but still above 8,000

The benchmark Philippine Stock Exchange Index (PSEi) ended relatively flat on Tuesday as investors stayed on the sidelines amid a lack catalysts.

By the closing bell on Tuesday, the PSEi was up 0.04 percent, or 2.96 points, to 8,012.34 while the broader all-shares index was down 0.01 percent or 0.66 points to 4,788.62.

Trading volume was thin yesterday as 489.23 million shares valued at P4.73 billion changed hands.

There were 100 losers versus 76 gainers while 57 companies closed unchanged.

Subsectors ended mixed on Tuesday, with property and services emerging the only gainers posting an increase of 0.49 percent and 0.27 percent, respectively.

Financials declined the most at 0.29 percent, followed by industrial, down 0.22 percent; holing firms, down 0.09 percent, and mining and oil, down 0.03 percent.

Ayala Corp. was the most actively traded on Tuesday as it lost 1.87 percent to P840.

It was followed by BDO Unibank Inc., up 0.9 percent to P156.40; Alliance Global Group Inc., up 3.19 percent to P11.64; Ayala Land Inc., down 0.64 percent to P46.50, and SM Prime Holdings, up 2.05 percent P39.90 per share.–MIGUEL R. CAMUS