THE Philippine Stock Exchange index (PSEi) expects to perform better this week as Friday closed in the negative territory due to the profit-taking.

This was after it traded above 7,000-level, while the peso ended sideways against the greenback.

“The local bourse dropped 25.12 points (0.36 percent) to 6,919.59 as investors took some gains at the last minute,” Philstocks Financial, Inc. assistant research manager Claire Alviar said.

The shares closed flat at 3,609.21.

“Meanwhile, the market traded mostly in the green territory attributed to the positive cues from the US markets as the US’ personal consumption expenditures price index for January came in line with expectations,” she said.

Among the biggest losers on Friday include Mining and Oil, down by 42.84 to 8,467.99 level; followed by Holding Firms, down by 37.19 points; Financials, down by 16.86 points; and Services, down by 12.97 points.

Meanwhile, the property and industrial firms gained by 34.51 and 15.33 points, respectively.

“The possibility that the inflation rate in February would be higher than in January weighed on sentiment,” Alviar said.