Manila, Sept. 18 -- The local stock market slipped on Friday as investors remained cautious ahead of the expected big-time oil price hike next week, while the peso closed almost flat against the United States dollar.

The Philippine Stock Exchange index (PSEi) fell by 1.72 percent to 5,855.91, while the broader All Shares declined by 1.22 percent to 3,277.80.

Among the sectoral indices, only mining and oil closed in the green, up by 1.65 percent.

Holding firms and services recorded the biggest decline at 2.45 percent and 2.53 percent, respectively.

"Market sentiment remained cautious amid expectations of a significant increase in domestic gas prices next week," Regina Capital Development Corp. head of sales Luis Limlingan said in a sta...