PSE INDEX DOWN ON PROFIT-TAKING

The Philippine Stock Exchange (PSE) index declined today on profit-taking as Monde Nissin continued its slide and 2Go figured in a huge block sale as net foreign buying tempered the market's slide, overhauling its deficit at the close to end just 49.82 points down or 0.73 percent to 6,791.87 points.

Four of the sub-sectors posted declined, with the financials down 0.14 percent, holding firms, by 0.84 percent, services, down 0.07 percent, and property, by 1.25 percent while the industrials gained 0.07 percent and the mining and oil up by 2.39 percent.

Value turnover was a hefty P18.783 billion with gainers ahead of losers, 114 to 86 with 51 shares unchanged as profit=takers switched their sights on the second liners.

Monde Nissin was the day's most active stock with P1.956 billion in trades as it lost another 36 centavos to P13.10, with foreigners dumping P154 million worth out of the total foreign selling of P8.248 billion.

Ayala Land was the second most active at P510 million as it dropped by 45 centavos to P36.50, even with foreign buying of P100 million out of the total foreign buying of P10.143 billion.

ICTSI, which also had foreign buying of P85 million also posted a 70 centavo loss to P148.40, while market bellwether SM Investments was shaved by P2 to P998 with trades of P132 million, of which P26 million was foreign selling.

Net foreign buying amounted to P1.8 billion with a block sale of 2Go amounting to P1.9 transacted that was made part of the foreign buying component. 2Go lost 12 centavos to close at P8.18.

Monde, which had an IPO price of P13.50, went down to as low as P12.68 before recovering lost ground.

PLDT and Globe went opposite ways with the former up by P8 to P1,318 and the latter down by P24 to P1,811. Converge and Dito also declined respectively by 18 centavos to P19.76 and 31 centavos to P9.75.

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