PSE PAUSES ANEW

The Philippine Stock Exchange (PSE) index paused today unable to sustain its opening rally near a new milestone level, dropping by 53.62 points or 0.74 percent to close at 7,227.73 points.

Value turnover was at a vibrant P10.12 billion with net foreign selling amounting to P615 million as foreigners cashed in their gains. Foreign buying stood at P4.07 billion, while foreign selling amounted to P4.692 billion with 95 gainers, 128 losers and 49 shares unchanged.

The financials were up, the only sub sector gaining, even with top active stock Metrobank, losing P1.20 to close at P49.80, as it was affected by net foreign sale of P214 million out of its P756 million. BDO Unibank and Bank of PI overcame that loss as they both respectively posted gains of P1 to P114 and P83 per share.

BDO had foreign buys of P161 million and BPI, P17 million. PLDT also benefitted from foreign buy of P37 million to rise by P10 to P1,360, while Globe Telecom lost P8 to P2,030 as it was affected by the foreign selling of P86 million.

Market bellwether SM Investments declined by P15 to P1,050 with foreign sales of P118 million, while second liners Philippine Horizon lost 6 centavos to P0.99. Dito was also down by 2 centavos to P7.72, while Converge also was down 10 centavos to P15.60