Manila: The benchmark Philippine Stock Exchange index (PSEi) fell on Thursday as investors locked in profits from a two-day rally, while the peso closed almost unchanged against the United States dollar amid concerns over surging global oil prices. The local bourse's main index declined by 0.28 percent to 6,099.23 points, while the broader All Shares index dipped by 0.08 percent to 3,383.31 points.

According to Philippines News Agency, in a market report, Philstocks Research said the local market pulled back as investors booked gains after a two-day rise. "Worries over rising global oil prices and its impact on our country's inflation also weighed on sentiment," it said, adding increased military actions in the Middle East pushed Brent crude prices past USD100 a barrel.

Most sectoral gauges also finished in the red, led by Holding Firms which dropped 1.17 percent, followed by Industrial (0.60 percent), Property (0.55 percent), and Financials (0.33 percent). In contrast, Mining and Oil climbed 2.59 percent, while Services advanced by 0.74 percent.

Trading volume reached 1.03 billion shares valued at PHP7.3 billion. Decliners outnumbered advancers, 93 to 83, while 67 shares remained unchanged. Meanwhile, the local currency ended almost unchanged at 62.53 against the U.S. dollar from 62.51 Wednesday. It opened the day unchanged at 62.5, and traded between 62.5 and 62.58, resulting in an average of 62.54. Volume declined to USD1.19 billion from USD1.68 billion a day ago.