Bellwether index down by 6 points

The Philippine stock index on Monday went fell by 6.86 points, or 0.10 percent, to close at 7,136.10.

The majority of sectors were red, with Mining and Oil leading the red territory down by 1.93 percent, followed by Properties down by 1.35 percent, and Banking by 0.89 percent.

Holding Frims and Services were the only gainers, up by 1.00 percent and 0.88 percent, respectively.

International Container Terminal Services was the top index gainer, up by 2.27 percent to P405.00. Meanwhile, Converge ICT Solutions, Inc. was at the bottom, falling 4.47 percent to P15.38.

The stock market declined following investors maintaining a cautious stance while waiting for crucial economic data to be released this week, as well as the US’ upcoming presidential elections. according to Philstocks Financial Inc. senior research analyst Japhet Tantiangco.

Inflation tipped higher

“Investors are taking into consideration expectations of a higher inflation in October and a slowdown in GDP growth in the third quarter,” he added, citing the net foreign outflows for the day amounted to P777.98 million.

Value turnover was P4.42 billion. Decliners outnumbered Advancers at 107 to 76.

BDO Unibank, Inc. was the most actively traded stock at P613,081,736.00, down by 0.85 percent.

The peso closed at P58.34, opening the day at 58.27.

The weighted average was 58.238.