PSEi end flat as investors await new quarantine guidelines

Share prices on the Philippine Stock Exchange closed flat, albeit in the green on Tuesday as investors await the new quarantine measures to be announced.

The benchmark PSEi gained 0.24 points or 0.004% to 6,172.81 at the closing bell. The broader All Shares shed 7.90 points or 0.22% to 3,625.85.

“The local bourse ended the session flat, adding only 0.24 points to 6,172.81 due to lack of strong catalyst while investors await new quarantine guidelines,” Philstocks Financing said in a market commentary.

Quarantine classifications currently in place are set to expire on July 15.

“Our market remains in limbo as investors weigh risks with rising coronavirus infections and overwhelmed medical facilities,” AAA Equities head of research Chris Mangun said.

“It traded sideways throughout the day on low trading volumes,” Mangun said.

More than 5.8 billion shares valued at P5.127 billion, changed hands, Decliners led advancers, 126 to 87, and 29 issues were unchanged. — BM, GMA News