The day's Market - May 22, 2007 (PSEi at the 3,500 level)

President Gloria Macapagal Arroyo (PGMA) graced the opening of today's trading session at the Makati trading floor. She congratulated the Philippine Stock Exchange and investors as local equities are now trading at all-time high levels.


PSEi previous close - 3466.34 (May 21, 2007)

time-----------up----------------PSEi
9:31---------8.19
9:32---------9.14
9:33--------11.01
9:34--------12.66
9:35--------13.79--------------3480.13

The market opened with a buoyant sentiment and immediately challenged the 3,480 (yesterday's intraday high) resistance level. Upon breaking 3,480, the market tested new highs and maintained the level as a support.

9:36--------16.14
9:37--------16.85
9:38------------------PhP 46.156 vs $ 1.00
9:39--------13.98

At this point; asian equities markets were also up.

9:45-------15.51
9:47-------17.76
9:51-------18.18
9:54-------20.63------------3486.97
10:02------19.48
10:03------18.92
10:04------17.68
10:05------15.27------------3481.61

With the 3480 serving as a new immediate support, the market heads higher and sets its sights at the 3,500 level.

10:11-------20.26
10:19-------21.95
10:27-------15.86------------3482.20

The markets advanced in the next hour to test the 3,500
10:33-------20.50
11:03-------31.46-------------3497.80

Initial test. Failing to break the resistance, the market retreated to gather momentum.

11:10-------26.17
11:13-------25.58

Next test.

11:19-------29.95
11;20-------30.34
11:23-------32.20------------3498.54

The 3,500 level is breached.

11:24-------35.88------------3502.22
11:25-------37.17
11:26-------39.32------------3505.66 (the day's high)
11:30-------33.66------------3500

The market now moved sideways in the last hour of trading as it tried to consolidate at this level.

11:35------------------PhP 46.086 vs $ 1.00
11:40-------31.97------------3497.91
11:41-------36.51------------3502.85
11:47-------29.17------------3495.51
11:54-------35.82------------3502.16
11:58-------33.67------------3500.01

A last minute minor surge had the market close near its day's (and also another all time) high.

11:59-------37.96------------3504.30
12:01-------38.69------------3505.30 (+1.12%)
Market Close.

Advancers 63
Decliners 46

Value turnover PhP 7.307 bn
Cross transactions PhP 2.720 bn

Sectoral Indices were higher across-the-board.
Property +1.71%
Financial +1.58%
Holdings +1.23%
Industrial +0.69%
Services +0.28%
M-O +0.18%

Closing prices of select stocks - May 22, 2007
ABA - PhP 0.012
ALI - PhP 15.75
AR - PhP 0.013
DGTL - PhP 1.58
EIB - PhP0.53
GO no trade
GOB no trade
LOTO - PhP 16.00
MPI - PhP 4.50
NRCP - PhP 4.35
SUN - PhP 0.70
V - PHP 1.74
WEB - PhP 0.050