Stocks flat on sideways trading

The local stock market ended flat yesterday as investors remain cautious amid lack of fresh news. The Philippine Stock Exchange index (PSEi) eked out a gain of 2.07 points, or 0.03 percent, to settle at 5,925.30 with only the Holding Firms and Services counters in the red. Volume improved to 2.79 billion shares worth ₱5.97 billion as advancers beat losers 101 to 80 with 60 unchanged. “The local bourse closed flat as investors continued to struggle with lingering economic worries,” said Philstocks Financial Senior Analyst Japhet Tantiangco. Regina Capital Development Corporation Managing Director Luis Limlingan noted that, “The PSEi ended flat once again as the efforts of some US drug-makers to come up with an effective vaccine and therapeutic to the COVID-19 disease was halted. (James A. Loyola)