Stocks lower despite Wilcon listing

March 31, 2017

Stocks closed lower on Friday, the last trading day of March, with the Philippine Stock Exchange index closing 20.87 points down to 7, 311.72

At the broader market, declines outnumbered gainers 102-86, with 42 shares steady.

Volume reached 1.01 billion shares valued at P9.18 billion from Thursday’s 864.73 million shares worth P7.64 billion.

Foreigners were net sellers with sales of P5.48 billion compared to purchases of P 5.49 billion.

Wilcon Depot Inc., which debuted at the Philippine Stock Exchange, gained 5.54 percent to P5.33. It was the most active stock with 201.3 million shares worth P1.05 billion.

In a statement, the PSE said Wilcon raised over P 7 billion in total proceeds on its maiden listing.

SM Investment Corp., which said it acquired minority stake at 2Go Corporation, a company specializing in logistics, gained 0.14 percent to end at P697. It drew 1.045 million shares worth P726 million.

The peso gained four centavos to close P50.16 against the US dollar. At the Philippine Dealing System, volume rose to $483.1 million to $320.50 million. DMS