Stocks closed lower on Tuesday even as mining shares, which were hard hit by the news of the Department of Environment and Natural Resources audit on mines, recovered.

The Philippine Stock Exchange index closed 31.76 points lower to end at 7,262.64, Volume rose to 3.85 billion shares worth P6.59 billion from the previous day’s 3.61 billion shares valued at P8.22 billion.

Foreign selling reached P2.98 billion while foreign buying amounted to P2.66 billion. On Monday, foreign selling hit P5.33 billion while foreign buying was at 4.96 billion.

The peso closed at P49.78 from Monday’s P49.69. Volume rose to $548 million from the previous $ 365.90 at the Philippine Dealing System DMS