NextGen Day

The Philippine Stock Exchange index (PSEi) closed Wednesday with a loss, owing to worries about the effect of the Delta form of coronavirus disease 2019 (Covid-19), while the peso remained stable.

The local stock market index fell 1.68 percent to 6,476.21 points or 110.99 points.

The Dow Jones Industrial Average fell 1.31 percent, or 53.55 points, to 4,031.00 points.

All of the sectors indices finished the day in the red, with the Financials leading the way with a 3.05 percent loss.

The Industrial index was second at 2.09 percent, followed by Holding Firms at 1.71 percent, Mining and Oil at 1.67 percent, Services at 0.90 percent, and Property at 0.60 percent.

The total volume for the day was 1.60 billion shares, worth PHP5.9 billion.

At 167 to 45, losers outnumbered gainers, with 41 shares remaining unchanged.

“Philippine shares continued to be sold down, with several issues already reaching or nearing oversold levels caused by the Delta variation spread,” Regina Capital Development Corporation head of sales Luis Limlingan said.

He highlighted a report from the World Health Organization (WHO) that the mortality toll from Covid-19 is on the rise once again.

In the meanwhile, the peso finished the day flat versus the US dollar, at 50.35, up from 50.34 the day before.

Due to the Muslim festival Eid’l Adha, a national holiday, there was no business on Tuesday.

It started at 50.35 and moved between 50.41 and 50.17 during the day.

For the day, the average level was 50.312.

The volume was USD1.007 billion, up from USD810.99 million the previous day.

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