Sam2: it is not mentioned in The Ben Ish Chai unless it is in a different area besides krias HaTorah http://www.shechem.org/torah/benishhi/sheni/toldot.html .
The Sefer Hachaim says to point with the index finger,the pinky is brought by the Meam Loez Ki Tova.
The Ben Ish Chai does bring the opinion of the Shulchan Aruch which is to bow during hagbah,and the Ben Ish Chai adds that on shabbas one bows seven times kenged the aliyos.I have not seen many follow the practice of the Shulchan Aruch to bow during hagbah ,I wonder why this is so.