Stocks closed lower on Wednesday with six of seven counters declining on lower volume.

The Philippine Stock Exchange index closed at 7,174.30 points, down 32.54 points. Declines outnumbered advancers 108-87 with 47 shares unchanged.

The mining sub-index, which together with property issues, pulled down the market on Wednesday ended with smaller losses. The sub-index lost 52.40 points to end at 11,899.66 points

Volume reached 2.57 billion shares worth P7.96 billion from Wednesday’s 4.11 billion valued at P7.3 billion.

Foreign selling reached P5 billion while foreign buying amounted to P4.54 billion.

The peso closed at P49.92 against the US dollar from Wednesday’s P49.88. Volume fetched $319.50 million from the previous session’s $467 million. DMS