BusinessWorld June 21, 2007
The Dow Jones Industrial Average fell by 146.00 (-1.07%) points overnight to end at 13489.42. This was taken as a cue by the local equities market to take a breather after its recent charge to new all time high levels.
PSEI previous close - 3718.88 - June 20, 2007
time----------down-------------PSEi
9:31----------10.74------------3708.14
9:33----------12.75
9:35----------10.62------------3708.26
The market was initially trying to hold above the 3,700 level as recent large drops in the US markets did not shatter investors confidence in the Philippine stock market. But coming from a strong run up to new all time high levels, caution was the order of the day as a consolidation was also needed.
For the first five minutes, there was still no trade in PLDT which closed yesterday at PhP 2685. When PLDT opened its trading with a transaction at PhP 2600, the Philippine Stock Exchange Index (PSEi) immediately dropped and it induced a selldown.
9:37---------38.52-------------3680.36
The big price drop in PLDT had the market test a support at 3,680. But the sudden steep decline unnerved investors and selling accelerated.
9:38----------48.42
9:42----------49.44
9:55----------52.37
10:04---------53.89
10:06---------56.47-----------3662.41 (the day's low)
There was an attempt to close chart gap at the 3633-3657 levels. But with the price PLDT recovering; bargain hunters stepped in.
10:08--------46.47
10:09--------45.01
10:11--------41.87
10:12--------38.74-------------3680.14.
The 3680 level as a resistance was now being tested. By now, PLDT was trading at PhP 3675.
10:13--------35.44
10:14--------34.73
10:15--------33.27
10:16--------30.10
10:19--------30.54
10:20--------28.57--------------3690.31
The 3,680 level was breached........
10:28--------34.94
10:39--------34.99--------------3683.89
.......the 3,680 level held as a support......
10:45--------27.50--------------3691.38
10:48--------25.65
11:03--------23.31
11:20--------20.38
11:27--------19.19
11:32--------19.58--------------3699.30
The key 3,700 level was now being tested
11:37-------23.38---------------3695.50
11:48-------15.14---------------3703.74
11:49-------18.16---------------3700.72
11:55-------19.61---------------3697.27
11:56-------18.87---------------3700.01
After hovering in the 3700 level, a strong finishing kick had the market recover most of its losses and close above the 3700 level.
11:57------16.84
11:58------10.57
11:59-------8.91
12:01-------4.29--------------3714.59 (-0.11%)
Market Close.
Advancers 82
Decliners 46
Value turnover PhP 5.921 bn
Cross transactions PhP 1.679 bn
Sectoral Indices
M-O +1.81%
Services +0.88%
Holdings +0.47%
Financial -0.02%
Industrial -0.12%
Property -1.25%
The market showed great resilience as it managed to recover the day's losses. Despite the correction, Advancers outnumbered gainers and some sectors even managed to advance.
Closing prices of select stocks - June 21, 2007
ABA - PhP 0.013
ALI - PhP 18.50
AR - PhP 0.016
DGTL - PhP 1.64
EIB - PhP 0.56
LOTO - PhP 16.25
MPI - PhP 4.50
NRCP - PhP 4.60
SUN - PhP 1.12
V - PhP 1.86
WEB - PhP 0.0725
No comments:
Post a Comment