PSE DROPS ON PROFIT-TAKING

The Philippine Stock Exchange (PSE) today declined on profit-taking with the index going down by 54.16 points or 0.77 percent, as foreign investors sold more than what they bought with a net foreign selling of P374 million.

Only the financials posted a gain, up by 1.57 percent, while the other subsectors declined, with the industrials losing .58 percent, holding firms, down 1.67 percent; services, 0.10 percent, mining and oil, 1.51 percent, and property 0.72 percent.

Value turnover was a hefty P11.123 billion with 114 gainers, 99 losers and 60 shares unchanged. Foreign selling stood at P5,013 billion while foreign buying reached P4.639 billion.

BDO Unibank was the most active stock, trading P1.19 billion as it rose by P1.65 to P99 while Bank of PI was the second most active, with value turnover of P605.2 million as it posted a P2.25 gain to P86.70. Security Bank was up by P1.30 to P107.50, while Metrobank gained just 15 centavos to P45.65 as there was a net foreign selling of P116 million.

Ayala Land had foreign buying of P113 million but it declined by 25 centavos to P39.25, while Dito slid again, losing another 30 centavos to close at P14.68. Market darling MerryMart went up by 19 centavos to P5.34 while market bellwether SM Investments declined by P24 to P1,005 as it hobbled by the net foreign selling of P136 million.

PLDT and Globe Telecom respectively closed at P1,370, down P29 and P2,006, down by P10. Ayala Corp. and Universal Robina were both unchanged at P850 and P148, respectively.