The day's market - June 12, 2007

109th Anniversary of the Philippine Independence Day

The DJIA was flat overnight. It closed slightly up by 0.57 points to close at 13,424.96. Last Friday's strong rebound rubbed on the local equities market. The Philippine stock market jumped from the opening bell.

PSEi previous close - 3526.73 (June 8, 2007)

time---------------up--------------PSEi
9:31---------------22.15

The opening wave of buying brought up the market immediately.

9:32---------------23.07
9:34---------------26.13
9:36---------------27.11
9:37---------------29.03
9:38---------------38.25----------3564.98

A slight pullback.

9:39---------------29.13
9:43---------------28.39
9:52---------------27.79----------3554.52

The next upward movement brings the market higher.

9:56---------------32.34
9:58---------------35.10
10:01--------------40.28
10:02--------------42.68
10:03--------------44.85
10:04--------------45.23---------3571.96

Another minor correction.

10:05--------------39.53
10:14--------------37.06

The third wave brings the PSEi to the its high.

10:15--------------44.88----------3571.61
10:22--------------45.80
10:23--------------46.30
10:24--------------48.62
10:25--------------49.79
10:26--------------50.95
10:27--------------53.56
10:34--------------53.60
10:37--------------57.19
10:38--------------57.90
10:39--------------58.38----------3585.11 ( the day's high)

The final hour of trading had the market move in a narrower range between the 3,570 -3,580 level.

10:53--------------53.65----------3580.41
10:54--------------52.52
10:57--------------50.58
10:58--------------48.93
11:15---------------49.54
11:17---------------47.80
11:18---------------45.86---------3572.59
11:20---------------49.02
11:25---------------50.35
11:28---------------52.09---------3578.82
11:32---------------47.63
11:34---------------46.92
11:53---------------44.21
11:57---------------41.29----------3568.02
12:01---------------44.37----------3571.10 (+1.26%)
Market Close.

Advancers 72
Decliners 38

Value turnover PhP 5.277 bn
Cross transactions PhP 1.669 bn

Sectoral Indices
Property +1.84%
Financial +1.70%
Services +1.68%
Industrials +0.34%
Holdings -0.32%
M-O -0.19%

Considering the market kept most of the day's gains, momentum would most likely test the 3,580-3,600 resistance (if the US markets continue to hold their ground tonight). A consolidation may ensue if the resistance is not breached. Support remains at the 3,500-3,520 levels.

Investors and punters continue to turn their attention to the second- and third-liner stocks as trading in these lesser known issues remain brisk.

The day's top gainers:
1) BKD - PhP 0.93 +50.00%
2) AAA - PhP 0.50 +50.00%
3) ZIP - PhP 3.10 +32.48%
4) ZHI - PhP 0.56 +24.44%
5) WIN - PhP 0.36 +20.00%
6) PA - PhP 0.033 +17.86%
7) PO - PhP 4.90 +17.86%
8) ARA - PhP 0.68 +15.25%
9) PHES - PhP 0.47 +11.90%
10) AMC - PhP 5.80 +11.54%
11) MVC - PhP 1.20 +9.09%
12) MED - PhP 0.64 +8.47%
13) IRC - PhP 0.014 +7.69%
14) APC - PhP 1.12 +7.69%
15) IMP - PhP 0.042 +7.69%
16) SFI - PhP 0.42 +7.69%
17) SPM - PhP 1.98 +7.61%
18) DIZ - PhP 4.70 +6.82%
19) AR - PhP 0.016 +6.67%
20) ACR - PhP 0.98 +6.52%


Closing prices of select stocks - June 12, 2007
ABA - PhP 0.013
AR - PhP 0.016
ALI - PhP 17.00
DGTL - PhP 1.52
EIB - PhP 0.54
LOTO - PhP 16.00
MPI - PhP 4.10
NRCP - PhP 4.30
SUN - PhP 0.78
V - PhP 1.68
WEB - PhP 0.0525