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Manila Bulletin devider Business devider The Stock Market devider Stocks dip amid weak trading

Stocks dip amid weak trading

Published Oct 21, 2024 08:13 am

The local stock market dipped on thin trading as investors wait for fresh corporate earnings reports to come out.

The main index shed 9.1 points or 0.12 percent to close at 7,406.63 with sectoral indices evenly mixed. Volume was weak at 638 million shares worth P3.3 billion as losers outnumbered gainers 113 to 104 with 53 unchanged.

“Philippine shares had a tepid start as equities begin a new trading week with more earnings scheduled for release in the coming days,” said Regina Capital Development Corporation Managing Director Luis Limlingan.

Philstocks Financial Research Manager Japhet Tantiangco also said “The local market closed lower this Monday as investors took a cautious stance while waiting for new positive catalysts primarily the corporate sector’s third quarter corporate results.”

He noted that, “Foreigners were net buyers with net inflows amounting to P161.44 million.”

 

Related Tags

Philippine Stock Exchange index (PSEi) Regina Capital Development Corporation Luis Limlingan Philstocks Financial Japhet Tantiangco
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