Local stocks finished virtually unchanged in Tuesday session, as a late-stage wave of selective bargain hunting offset lingering investor anxiety surrounding Middle East turmoil and cooling domestic economic indicators.

The Philippine Stock Exchange index (PSEi) crept up 2.90 points, or 0.05 percent, to close at 6,264.7 on Aug. 18. Mining shares led the modest advances, while conglomerate holdings and banking equities trailed behind, exerting downward pressure on the broader benchmark.

Trading volume remained subdued across the exchange due to widespread hold-and-see strategy among market participants. Overall turnover reached 1.41 billion shares valued at ₱5.8 billion. Decliners narrowly outpaced advancers, with 102 stocks closing lower, 100 ending higher, and 53 remaining unchanged.

Market sentiment was constrained for the majority of the session as local investors digested macro headwinds from abroad alongside softer fundamentals at home. Equity traders remained cautious in response to weaker Wall Street performance overnight and fresh official data indicating slowdown in domestic cash remittance growth.

“The local index ended higher following late-session buying pressure on select index names,” said Luis Limlingan, managing director at Regina Capital Development Corp. “Trading remained cautious for most of the session amid news of weaker remittance growth and softer Wall Street performance.”

Geopolitical developments in the Middle East also weighed on early sentiment after the cease-fire framework between the US and Iran lapsed without a formalized extension agreement.

“For the most part of the day, the local market was down weighed by the uncertainties in the Middle East as the ceasefire agreement between the US and Iran ends without an agreed upon extension,” said Japhet Tantiangco, research manager at Philstocks Financial Inc. “On the last minute, investors hunted for bargains bringing the market to a positive close.”