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PSEI higher but more stocks declined

The local stock market was up slightly yesterday as investors picked at some bargains from last week’s decline.

The Philippine Stock Exchange index (PSEi) gained 22.73 points, or 0.39 percent, with only the Mining & Oil and Property counters in the red.

Volume remained tepid at 1.14 billion shares worth P5.08 billion with losers beating gainers 113 to 88 as 38 were steady.

“The PSEi ended slightly higher today but mainly flat on very low trading volumes as investors wait for more signs of the economy’s recovery,” said AAA Equities Head of Research Chris Mangun.

He added that, “The sentiment remains cautious as the government is set to announce the new status of quarantine restrictions in the country in the next few days.“

Source: Manila Bulletin (

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