The Dow Jones Industrial Average (DJIA) was again down overnight. It fell by 96.93 points to close at 12,300.36. It has now declined by more than 160 points the past two trading days. As expected and with a dearth of market moving news, the Philippine Stock market followed suit.
PSEi previous close 3162.81 (March 28, 2007)
time-----------down--------------PSEi
9:31------------12.92
9:47------------18.89
9:58------------22.23
10:14-----------24.01
10:27-----------26.48------------3136.33 (day's low)
10:35 ----------------PhP 48.332 to $ 1.00
10:50----------20.10
11:11-----------10.37
11:24-----------17.27
11:50-----------18.10
12:01-----------11.09------------3151.72
Market Close.
It was another day of lackluster trade. Most asian markets were down and the Philippine peso was also weaker.
Value turenover was at PhP 4.39 billion but more than half or PhP 2.313 billion were cross transactions.
Advancers 32
Decliners 52
Sectoral Indices
M-O +1.30%
Services +0.08%
Property -1.08%
Financial -0.40%
Holdings -0.34%
Industrial -0.16%
The resumption of trading of RCBC shares added volume to the market (its total turnover amounted to PhP 1.32 billion) but it failed to buoy up sentiment. Its follow on offer had its shares priced at PhP 27.00. It opened trade at PhP 29.00 but it closed at PhP 27.50.
Consolidation continues.
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