PSE INDEX DECLINES ON FOREIGN SELLING
The Philippine Stock Exchange (PSE) index closed at its lowest point today down by 35.05 points or 0.54 percent to 6,459 points hounded by continued foreign selling that affected blue chips as the business losses mount with the two-week ECQ in NCR Plus costing P180 billion to the economy.
Net foreign selling amounted to P704 million on foreign buying of P1.425 billion and foreign selling of P2.13 billion, with Bank of PI surviving a P101 million unloading by foreign investors to end unchanged at P83 on trades of P147 million.
Security Bank, on the other hand, posted a loss of P3.80 to P115 as foreign selling amounted to P45 million out of total trades of P104 million.
Value turnover was a low P4.89 billion with 81 gainers, 119 losers, and 47 shares unchanged as the financials gained fractionally by 0.02 points on the rise of BDO Unibank, which closed at P105.20, up 40 centavos on foreign buying of P115 million out of its turnover of P212 million.
Likewise, mining and oil stocks rose by 1.02 percent on the euphoria from the presidential directive allowing the opening of new mine sites after nine years.
Manila Mining was the top gainer today rising 18.18 percent as it closed P0.002 higher to P0.013, while the most active stock was ICTSI, which went up by P1.10 to P129 with trades of P436.12 million.
Market bellwether SM Investments posted a loss of P3 to P975.
Food giant Jollibee Foods dropped by P3.50 to P176 with foreigners unloading P51 million out of its P92 million trade.
Universal Robina had the second biggest foreign selling at P86 million of its P151 million trade as it went down by P3 to P125, while Ayala Corp nursed a P13 decline to P745.
PLDT posted a loss of P11 to P1,244, while Globe was unchanged at P1,895. Megaworld, the second most active stock with P257 million in trades, went down by 15 centavos to P3.23.