Stock index loses ground

September 18, 2018

Stocks slipped on Tuesday due to fears that inflation will be higher in due to the damage brought about by Typhoon Ompong on agriculture.

The Philippine Stock Exchange index finished 127.22 points lower to 7,286.34. In the broader market, there were 155 decliners, 50 gainers and 36 shares unchanged.

Volume reached P2.3 billion shares worth P6.59 billion from Monday's 968.13 million shares valued at P3.94 billion.

Foreigners were net sellers for the 14th session. Selling was at P3.81 billion compared to buying of P3.52 billion.

Most active shares were led by Ayala Land, down 2.64 percent to P40.50; SM Investments Corp., down 3.36 percent to P891 and BPI, down 4.14 percent to P82.10. DMS