Stocks lower after last week’s high

July 31, 2017

Stocks closed lower on Monday after the key index soared to year's high last week. The Philippine Stock Exchange index shed 53.42 points to 8,018.05. In the broader market, there were 129 decliners, 74 gainers and 53 unchanged. Volume reached 1.4 billion shares worth P7.933 billion. Foreigners were net sellers for the first time in almost a week, with sales of P4.335 billion compared to purchases of P4.24 billion. Most active shares were led by Ayala Land which losed 2.33 percent lower to P42 while PLDT declined 3.71 percent to P1,637. The peso gained 11 centavos to finish at P50.46 against the US dollar. Volume rose to $509.2 million from $432 million at the Philippine Dealing System. DMS