PSE DOWN ON SELL-DOWN

The Philippine Stock Exchange (PSE) index was not able to buck an early sell-down and went on to finish today's trading at 7,224.89 points, down by 47.91 points or 0.66 percent with value turnover heavy at P8.48 billion with just 83 winners, 144 losers and 42 shares unchanged.

Dito was the day''s most active stock rising to a new high of P8.35, up 42 centavos as it towed other many second liners in a day that saw other gyrations in the market perked up by local interest in the absence of better rates from bank deposits and bond floats.

The financials were down by 0.65 percent with BDO Unibank, the second most active, with trades of P475 million, losing P2.10 to P109.90; and Security Bank down by 90 centavos to P137.90. Metrobank was up by 75 centavos to P50.35. Both PLDT and Globe Telecom posted respective declines of P19 to P1,352 and 40 centavos to P2,061.

Market bellwether SM Investments was unchanged at P1,065 together with Robinson's Land at P21, while market darling MerryMart was up 35 centavos to P7.15. AC Energy rose 55 centavos to P7.15 or up 8.73 percent to emerge as the third most active stock with P367 million in trades.

SM Prime rose 20 centavos to.P38.10, while Metro Pacific lost 5 centavos to P4.34. Converge closed at 8 centavos to P15.70, while penny stock MRC Allied posted 3 centavo gain to 64 centavos.

The market opened higher from its Friday close but selling ensued pushing down the index to a low of 7,157.88 before rising to 7,251.02 points in trading that saw foreign selling of just P104 million with GT Capital having net foreign selling of P143 million out of the total selling of P2.542 billion. Total foreign buying stood at P2.437 billion.

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