STOCKS ended mostly flat on Wednesday as trading was quiet ahead of the Holy Week break.

The bellwether Philippine Stock Exchange index (PSEi) climbed 0.11% or 8.69 points to close at 7,835.15 on Wednesday. The broader all-shares index also went up 0.17% or 8.54 points to end at 4,836.68.

“A quiet trading session today heading into Holy Week with the Nasdaq [Composite index] breaking the key 8,000 level. US markets rose with the Nasdaq breaching above the crucial 8,000 handle for the first time in six months as investors digested a slew of corporate earnings,” Regina Capital Development Corp. Head of Sales Luis A. Limlingan said in a mobile message on Wednesday.

“Value turnover was indeed low at only P4.9 billion (ex-blocks), and only at P3.3 billion (ex-crosses),” Papa Securities Corp. Sales Associate Gabriel Jose F. Perez said in an e-mail.

Total value turnover stood at P5.45 billion on Wednesday as 694.40 million shares changed hands, down from the previous session’s P7.14 billion.

Mr. Perez noted that Robinsons Land Corp., Bloomberry Resorts, Corp. and PLDT, Inc. recorded the biggest gains on Wednesday at 5.2%, 3.5% and 2.4%, respectively.

Sector counters were split between gainers and losers. Services led advancers, gaining 1.45% or 23.02 points to close at 1,607.61. Financials rose 1.41 or 24.36 points to 1,741.70 and industrials increased 0.07% or 8.55 points to 11,612.93.

Meanwhile, mining and oil shed 0.7% or 54.98 points to close at 7,734.42; holding firms fell 0.69% or 52.48 points to 7,494.89; and property declined 0.35% or 14.68 points to 4,180.35.

Advancers trumped decliners, 110 to 73, while 45 issues closed unchanged.

Foreigners turned net sellers on Wednesday, logging a P63.33-million net outflow. This is a reversal of the previous day’s net purchases worth P365.97 million.

“PSEi’s movement on Monday could likely be dictated by how US markets move for the next 3 nights given the lack of catalysts in the local front, so best to watch out for that,” Mr. Perez said. — D.A. Valdez

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