Stocks lose momentum, end lower

December 6, 2017

Stocks gave up most of its gains in the final 30 minutes of the trading on Wednesday, as the Philippine Stock Exchange index finished 15.38 points lower to 8,129.62.

In the broader market, there were 95 decliners, 90 gainers and 59 unchanged. Volume amounted to 734.65 million shares worth P6.62 billion.

Foreigners were net sellers, selling P3.96 billion and buying P 3.25 billion.

Among most actively traded shares were SM Prime, down 2.47 percent to P35.60, PLDT, up 2.83 percent to P1,491 and Meralco, up 1.99 percent to P308.

The peso closed at P50.715 against the US dollar from P50.63 on Tuesday. At the Philippine Dealing System, volume reached $599.20 million from $668.10 million. DMS