Stock index ends at eight-month low

April 16, 2018

The Philippine Stock Exchange index fell to its lowest level since August 2017 on Monday despite foreigners being net buyers.

The index closed 29.93 points lower to 7,870.25. In the broader market, there were 130 decliners, 68 gainers and 49 shares unchanged.

Volume reached 1.68 billion shares worth P4.77 billion from Friday's 3.17 billion shares valued at P6.09 billion. Foreigners were net buyers as they bought P2.24 billion while selling P2.10 billion.

Most active shares were led by Vitarich Corp., down 3.28 percent to P2.65, Ayala Land, 0.25 percent up to P40 and Metrobank, unchanged at P83.55.

The peso closed at P52.07 against the US dollar from P51.95 on Friday. Volume at the Bankers Association of the Philippines reached $518.1 million from $522.65 million. DMS