PSE DECLINES ON HEAVY FOREIGN SELLING

The Philippine Stock Exchange (PSE) index declined today on heavy net selling from foreigners, which hit P3.16 billion, the first time since after the March sell out, closing the day at 6,791.46 points down by 136.29 points or 1.97 percent.

Seven of the top 20 most active stocks traded more than P1 billion, with Bank of PI topping the chart with P6.668 billion as it declined by 5.68 percent or P5, closing at P83. BDO Unibank lost P3.20 to P103.30, while Metrobank bucked the trend with a gain of P1.20 to P47.95.

Value turnover hit P27.64 billion with the top 20 most active stocks accounting for P24.14 billion, with Robinson's Land losing 38 centavos to P16.62 with trades of P2.786 billion, while SM Prime had trades of P2.317 billion, as it went down by 50 centavos to P36. Ayala Land was unchanged at P38 on trades of P1.557 billion.

The bullish sentiment though remained as there were 127 gainers against 75 losers with 50 shares unchanged. Market bellwether SM Investments went down by a huge 5.37 percent as it lost P55 to P970 on P1.17 billion in trade.

Globe Telecom had trades of P1.041 billion as it dropped by P66 to P1,948, while PLDT gained P22 to P1,314. Ayala Energy also gained 19 centavos to P6.24, while Converge rose by 12 centavos to P15.90. Dito also was up by 12 centavos to P6.35.