Stock drop amid lack of fresh leads

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The local stock market dropped on more profit-taking as investors wait for developments here and from overseas.

The main index fell 72.42 points or 1.00 percent to close at 7,157.73 as the Property and Mining and Oil counters fell with only the Services sector rising.Volume was slightly lower at 921.5- million shares worth P7.16 billion as losers beat gainers 121 to 85 with 41 unchanged.

He noted that, “Across the region, equities fell from recent highs as the momentum from the strong earnings season started to fade.”

 

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