FOREIGN SELLING HITS PSE INDEX

With net foreign selling hitting a hefty amount today of P731 million, The Philippine Stock Exchange (PSE) index went down another psychological milestone, finishing the day at 6.197.64, down 48.07 points or 0.77 percent.

Dito CME was the day's most active stock with a P695 million trading value as it closed 49 centavos lower to P9.35, with the mining sub-index posting the only gain as all sectors posted losses.

Financials were down 0.27 percent; industrials, 0.14 percent; services, down 0.26 percent, and property, off by 0.21 percent.

The mining and oil index was the sole gainer with a 1.59 percent backed by the gains in Manila Mining B shares, the top gainer, with a 23.08 percent rise to P0.016, up P.0.003, Lepanto, up by 9.09 percent to P0.168, a rise of P0.012, and Philex, up 7.56 percent or 50 centavos to P7.11.

BDO Unibank and BPI dropped by 10 centavos to P102.60 and P1.35 to P80.25, while Metrobank posted a gain of 20 centavos to P45.20 due to local support as foreigners sold P29 million of total foreign selling of P3.033 billion. PNB rose by 85 centavos to P21.05

Market bellwether SM Investments declined by P24 to P900, while Ayala Land, boosted by a buy-back program finished 85 centavos higher to P32.50 even with foreign selling of P29 million out of the total foreign selling of P3.033 billion.

PureGold was unchanged at P35, while Converge rose by 46 centavos to P19.96.

Total value turnover amounted to P6.197 billion with foreign buying of P2.302 billion with ICTSI getting P36 million in foreign buys, though it closed down by 20 centavos to P139.80.

PLDT lost P3 to P1,272 while Globe declined by P11 to P1,850. There were 101 gainers, 90 losers, and 50shares unchanged.

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