For the seventh straight day, the Philippine Stock Exchange index (PSEi) ended in negative territory, as local uncertainties are prompting sell-offs among investors.
On Tuesday (September 30), the PSEi declined by 0.74 percent to 5,953.46 points, while the All Shares barometer went down by 0.43 percent to 3,620.79 points.
“The Philippine market remains in the red after seven consecutive trading days. Selling pressure across the board persists, as investors remain cautious about the overall state of the market,” Luis Limlingan, Regina Capital Development Corporation head of sales, said.
“In addition, domestic uncertainties and the weakening peso continue to weigh heavily on investor confidence,” he added.
To recall, the PSEi inched down by 0.49 percent to 5,997.60 points on Monday (September 29), marking the first time the index went below 6,000 points since April 10.
On Tuesday, most of the sectoral gauges also ended down, led by the Property after it went down 2.03 percent.
It was trailed by the Services, 1.13 percent; Holding Firms, 1.03 percent; and Industrial, 0.42 percent.
Mining and Oil and Financials, however, rose by 1.45 percent and 0.31 percent, respectively.
Volume reached 1.57 billion, amounting to P9.09 billion, more than double the previous day’s P4.72 billion.
Decliners exceeded advancers at 129 to 79, while 45 shares were unchanged.
PNA PHOTO