Stocks lose ground but peso gains to P50.35:$1

November 28, 2017

Stocks declined on Tuesday, as the main index was pulled down by most blue chips.

The Philippine Stock Exchange index closed 69.81 points lower to 8, 191.88. In the broader market, there were 115 decliners, 75 gainers and 52 unchanged.

Volume reached 1.73 billion shares worth P8.8 billion. Foreigners were net sellers as they sold P5.415 billion while buying P5.363 billion,

Among most active shares were Meralco, down 1.36 percent to P313 and Metrobank, which rose 2.08 percent to P95.85 despite the announcement of the Bangko Sentral ng Pilipinas of sanctions related to investigation of a P1.75 billion fraud allegedly done by one of its officers.

PLDT fell 4.46 percent to P1,500, GT Capital went down 3.17 percent to P1,162 and Semirara Mining and Power lost 6.97 percent to P35.35.

The peso gained to close at P50.35 against the US dollar from P50.51 on Monday. Volume at the Philippine Dealing System rose to $696.45 million from $655.06 million. DMS