Share prices ended lower Monday as risk aversion continue to hound investors.
The Philippine Stock Exchange index (PSEi) was down 26.53 points to 6,518.64, a 0.41 percent drop.
The broader all shares index was down 10.39 points to 3,988.25, a 0.26 percent drop.
Losers edged gainers 120 to 86 with 48 stocks unchanged. Trading turnover reached P5.97 billion.
The peso closed at 48.56, down from 48.54 last Friday.
The currency opened at 48.58 and hit a high of 48.53 and a low of 48.585. Trading turnover reached $3737 million.
Japhet Tantiangco, analyst at Philstocks Financial Corp., said Monday’s drop is proof pandemic concerns continue to worry investors.
“This comes amid the continuous surge in COVID-19 cases, and the implementation of the MECQ (modified enhanced community quarantine) in the NCR (National Capital Region) Plus until April 30. The MECQ, though less restrictive than the previous one, is still seen to weigh heavily on our economy due to the stringent limits it places on the productive capacity of the areas where it is imposed,” Tantiangco said.
“Foreign funds were still net sellers adding to Monday’s decline. Net foreign outflows amounted to P869.25 million,” he added.
Most actively traded Ayala Land Inc. was down P0.45 to P34.05. SM Prime Holdings Inc. was steady at P35.60. BDO Unibank Inc. was up P2.10 to P103.50. SM Investments Corp. was up P7 to P972. Nihao Mineral Resources International Inc. was down P0.01 to P1.92.
Converge Information and Communication Technology Solutions Inc. was down P0.32 to P18.08. Universal Robina Corp. was down P4.70 to P137.30. AC Energy Corp. was up P0.10 to P7.74. Puregold Price Club Inc. was down P0.50 to P37.10. Metropolitan Bank and Trust Co. was down P0.05 to P44.70.
