Stocks reverse gains, ends lower

August 2, 2017

Stocks closed lower on Wednesday after moving higher in the morning session as the Philippine Stock Exchange index finished 33.95 points down to 7,872.65. In the broader market, there were 99 gainers, 92 decliners and 55 unchanged. Volume reached 1.6 billion shares worth P7.03 billion. Foreigners were net buyers, with purchases of P3.24 billion compared to selling of P2.74 billion. Among most active shares were Banco de Oro, up 1.2 percent to P126 and SM Investment Corp, down 1.3 percent to P797. The peso closed at P50.39 against the US dollar from P50.37 on Tuesday. Volume at the Philippine Dealing System rose to $576.04 million from $432.40 million on the previous day. DMS