The day's market - April 24, 2007

The market corrected after yesterday's strong advance into the upper limit of the market's wide trading range. The US market also corrected upon nearing the 13,000 resistance level.

The PSEi support at 3,300 level was immediately tested.


PSEi previous close - 3319.01 (April 23, 2007)

time-------------------down-----------------PSEi
9:31--------------------12.19----------------3306.82
9:32--------------------15.18
9:33--------------------16.79
9:35--------------------15.26
9:38--------------------17.21---------------3301.80
9:41--------------------19.68---------------3299.33
9:42--------------------21.65
9:44--------------------21.68

The market attempts to stay above the 3,300 level.

9:45--------------------16.24--------------3302.77
9:48--------------------15.92
9:49--------------------17.68
9:50--------------------18.14-------------3300.87

The 3,300 level buckles and fails to hold.

9:52-------------------19.09--------------3299.92
9:54-------------------21.06
9;57-------------------21.77
9:58-------------------23.02--------------3295.99

PLDT shares had its first matched trade for the day at PhP 2,540; down from its previous close of PhP 2,570. The market immediately fell lower as the drop was reflected in the PSEi.

10:02-----------------34.73--------------3284.28
10:05-----------------34.86
10:07-----------------35.71
10:10-----------------36.58
10:12-----------------37.81
10;14-----------------39.20
10:16-----------------39.26
10:18-----------------40.56
10:27-----------------42.45-----------3276.56 (day's low)
10:36-----------------35.73
10:40-----------------35.34
10:43-----------------35.18
10:57-----------------34.18
10:58-----------------33.51
11:06-----------------30.97
11:20-----------------30.90
11:25-----------------29.64
11:26-----------------28.48
11:50-----------------27.76
11:56-----------------27.60
11:59-----------------25.11-----------3293.90
12:01-----------------27.08-----------3291.93
Market Close.

Advancers 44
Decliners 62

Value turnover PhP 4.450 bn
Cross Transactions PhP 1.999 bn

Sectoral Indices
Services -1.74%
Property -1.13%
Financial -0.37%
Industrial +0.03%
Holdings +0.05%
M-O +1.52%

The market closed near the 3,300 level and is still trying to break out of its wide trading range.