MANILA: Both the Philippine Stock Exchange index and the peso remained largely unchanged on Thursday, reflecting investor caution in the market.

According to Philippines News Agency, the Philippine Stock Exchange index (PSEi) edged down slightly by 0.02 percent to close at 6,641.35 points. Similarly, the All Shares index saw a minor decline of 0.07 percent, settling at 3,756.07 points. Japhet Tantiangco, Philstock Financials research manager, noted that the market’s sideways movement ended in negative territory as investors quickly capitalized on intra-day gains while maintaining a cautious approach.

Within the sectoral indices, Services and Holding Firms emerged as the only gainers, rising by 0.72 percent to 2,085.54 points and 0.60 percent to 5,683.06 points, respectively. In contrast, sectors such as Property, Industrial, Mining and Oil, and Financials experienced declines, with Property down by 0.98 percent to 2,436.95 points and Industrial decreasing by 0.46 percent to 9,124.67 points. Mining and Oil f
ell by 0.12 percent to 7,534.62 points, while Financials slipped by 0.03 percent to 2,253.29 points.

The net value turnover for the day’s trading was PHP5.87 billion, surpassing the year-to-date average of PHP5.17 billion. Despite the overall flat performance, the market saw more losers than gainers, with 96 stocks declining compared to 82 advancing, and 70 remaining unchanged.

Tantiangco further explained that the depreciation of the Philippine peso, which breached the 58 level, negatively impacted the local bourse. The peso closed slightly firmer at 58.24 against the US dollar, compared to the previous day’s 58.28. The local currency started the day weaker at 58.40 and traded within a range of 58.21 to 58.42, averaging at 58.31 to the greenback. Trading volume fell to USD1.34 billion from USD1.81 billion in the prior session.