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Manila Bulletin devider Business devider Stocks flat amid uncertainty

Stocks flat amid uncertainty

Published Sep 21, 2020 04:22 pm

The local stock market managed to end flat Monday even though most stocks issues were lower as some large caps offset these losses.

The Philippine Stock Exchange index (PSEi) eked out a gain of 0.42 point to close at 5,909.32 with only the Property sector in the green.

Volume weakened to 2.13 billion shares worth P4.27 billion as losers beat gainers 138 to 58 with 42 unchanged.

“The PSEi closed almost without change amid uncertainty about a fresh round of fiscal stimulus from Washington and the latest updated from the Sino-US tensions,” said Regina Capital Development Corporation Managing Director Luis Limlingan.

AAA Equities Head of Research Chris Mangun said “Gains in Sy-led companies SMPH, SM, and BDO were offset by losses in Ayala-led blue chips ALI, AC, and BPI,which is the opposite of what we saw at the end of last week. Investors remain cautious despite improving economic activity.“

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