Manila: Early positioning after the decline of the Philippine Stock Exchange index (PSEi) resulted in its rise Tuesday, and the peso maintained its footing against the US dollar.

According to Philippines News Agency, the main equities index gained 0.57 percent, reaching 6,289.85 points, while the broader All Shares increased by 0.43 percent to 3,751.27 points. Most sectoral gauges recorded gains during the day, with Holding Firms leading the rise at 1.15 percent. Mining and oil saw an uptick of 0.90 percent, Property gained 0.84 percent, Services increased by 0.76 percent, and Industrial edged up by 0.04 percent. The Financials sector was the only one to end in the red, slipping by 0.28 percent.

Trading volume reached 756.75 million shares, amounting to PHP13.73 billion. Advancers outpaced decliners at 105 to 84, while 53 shares remained unchanged. Luis Limlingan, head of sales at Regina Capital Development Corporation, stated that the day’s trading was driven by bargain hunting as investors capitalized on recent declines, positioning themselves ahead of potential catalysts. He noted that market participants are vigilant for new developments that could sustain momentum in the coming sessions, with sentiment remaining cautious due to ongoing US economic and Philippine corporate updates.

The local currency managed to maintain its position against the US dollar, ending sideways at 57.07 from 57.04 on Monday. It opened weaker at 57.14 compared to the previous day’s 56.87, ranging between 57.23 and 57.04, with the day’s average settling at 57.16. Trading volume decreased to USD1.83 billion from the previous day’s USD2.2 billion.