Local bourse down amid weaker peso

The bellwether index on Wednesday slipped 19.31 points, or 0.26 percent, to close at 7,437.00.

The majority of sectors were painted red, with Miners being the biggest loser down by 0.83 percent, followed by Properties down by 0.83 percent, and Holding Firms by 0.56 percent.

Industrials and Financials were the only gainers, up by 0.32 percent and 0.04 percent, respectively.

DMCI Holdings Inc. was the top index gainer, jumping 5.80 percent to P12.40. Meanwhile, Nickel Asia Corporation was the biggest loser, decreasing by 2.39 percent to P3.67.

The stock market declined, with the peso’s weakness against the dollar seen as a weighting factor, according to Philstocks Financial Inc. senior research analyst Japhet Tantiangco.

Wall Street effect

“Spillovers from Wall Street’s overnight decline also weighed on Wednesday’s trading,” he added.

Value turnover was P6.67 billion. Decliners outnumbered Advancers at 101 to 86, while 75 names were unchanged.

BDO Unibank Inc. was the most actively traded stock at P612,241,522, down by 0.62 percent, followed by Puregold Price Club Inc. at P484,999,865, up by 4.39 percent.

The peso closed at P57.7 to a dollar from Tuesday’s 57.865.

It opened the day at 57.9 and traded between 57.7 and 57.92.

The weighted average was 57.824.