The Philippine Stock Exchange index fell 10.13 points to 6,359.15 yesterday, a 0.16 percent drop.
The broader all shares index was down 16.18 points to 3,906.82, a 0.41 percent drop.
Losers edged gainers 149 to 43 with 57 stocks unchanged. Trading turnover reached P4.63 billion.
The peso closed at 48.038 to the dollar, up from 48.05 on Monday.
The currency opened at 48.05, and hit a high of 48.02 and a low of 48.07. Trading turnover reached $730.7 million.
Philstocks Financial Inc. said the market “failed to sustain its gains again, ending in the negative territory amid worries over the local economy.”
“Selling pressures continued to dominate as our IHS Markit Manufacturing Purchasing Managers’ Index fell back to contraction territory in April with a reading of 49, evidencing the economic setback amid the reimposition of strict quarantine measure in the NCR Plus.
Trading was still lethargic as many investors remained on the sidelines,” said Claire Alviar, Philstocks Financial analyst.
Alviar said foreign funds were on their 23rd day of net selling, posting P371.78 million on Tuesday.
“Net foreign selling is on a 23-day streak averaging P716.12 million per day,” Alviar said.
Most actively traded Ayala Land Inc. was down P0.45 to P31.85. International Container Terminal Services Inc. was up P0.80 to P130.10. AC Energy Corp. was down P0.10 to P6.89. SM Investments Corp. was steady at P960. Converge Information and
Communication Technology Solutions Inc. was down P0.10 to P19. Dito CME Holdings Inc. was down P0.34 to P9.63. Metropolitan Bank and Trust Co. was up P0.05 to P45.05. SM Prime Holdings Inc. was down P0.10 to P34.20. Basic Energy Corp. was down P0.07 to P0.80. DDMP REIT Inc. was down P0.09 to P1.90.
