PSEi steady on lack of market catalyst

The Philippine Stock Exchange index on Tuesday registered a marginal 7.47-point gain as the market emerged from a three-day weekend in search of a market-moving catalyst. It was a slow session as the market moved in the absence of leads from the domestic and overseas fronts, traders and analysts said. The PSEi advanced 7.47 points or 0.2 percent to close at 3,566.23. The market was closed Monday for a national holiday. More than 2.27 billion shares changed hands valued at P14.608 billion. Gainers led losers 70 to 60, while 33 issues were unchanged. With the market’s gains in the last two weeks, there is a tendency to cash in on gains, said an analyst with First Metro Securities Brokerage Corp. There is underlying bullish sentiment, but there is little news to perk up the market, said a trader with BDO Securities Inc. —VS, GMNews.TV