PSE DROPS SOME MORE

The Philippine Stock Exchange (PSE) index today dropped some more in hefty volume in another profit taking performance as it closed 88.33 points or 1.21 percent to 7,047.85 points.

All subsectors were down as net foreign selling hit P685 million with the financial sector getting the biggest decline at 2.30 per cent.

The holding firms went down by 1.36 percent while the services lost 1.34 percent.

BDO Unibank, with foreign selling of P114 million, dropped by P2.50 to P99.90, while Metrobank, with P109 million in foreign selling, declined by P2.05 to P44.50. Bank of PI ended at P81, losing P81.

Dito was again the top ace with value turnover of P3.07 billion, as it closed lower by P1.14 to P12.26.

The next top gainers also declined. Ayala Corp Energy lost 58 centavos to P9.10 with turnover of P691 million, while MerryMart lost 18 centavos to P7.20 on trades of P579 million.

Market bellwether SM Investments lost P10 to P1,040, while ICTSI also dropped by P4.40 to P121.60, with net foreign selling of P86 million.

Ayala Corp, with P54 million in foreign selling, lost P26 to P795.

Net foreign selling amounted to P685 million with foreign buying of P2.071 billion and foreign selling of P2.757 billion.

Value turnover amounted to a hefty P11.907 million with 74 gainers, 146 losers and 45 shares unchanged.

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