PSEi trades flat as investors wait for catalysts

The local stock market ended in the green, albeit relatively flat, on Thursday as investors await market-moving developments to trigger buying and selling.

The benchmark PSEi gained 13.03 points or 0.22% to 5,938.33 at the closing bell. The broader All Shares increased by 5.53 points or 0.15% to 3,585.62.

“The PSEi ended flat with slight gains. This has been the trend for the last five trading days as it has seemed to have found an equilibrium between buying and selling,” AAA Equities head of research Chris Mangun said.

“This just shows how cautious the sentiment is right now and that it can't decide whether to go higher or lower,” Mangun said.

Foreigners were net sellers at P902.754 million, with P2.604 billion worth of shares sold against P1.702 billion bought.

More than 1.521 billion shares valued at P5.674 billion, changed hands. Advancers led decliners, 104 to 80, and 62 issues were unchanged.

“Investors are looking to the economy's recovery for a boost of confidence and if we do not see that soon, the market may go significantly lower,” Mangun said. — BM, GMA News