The day's market - June 22, 2007

The Dow Jones Industrial Average (DJIA) was up 56.42 points and closed at 13545.84. And coming from yesterday's recovery, the market opened higher to try and reach new highs.

PSEi previous close - 3714.59 (June 21, 2007)

time---------------change--------------PSEi
9:31-------------up 7.05--------------3721.64
9:32----------------8.95

Positive investor sentiment kept the market buoyant

9:35-------------up 1.83--------------3716.42
9:37----------------3.50
9:43----------------9.67
9:45---------------10.24
9:47---------------11.07
9:50---------------13.01
9:52---------------13.42
9:55---------------14.08
9:56---------------15.67---------------3730.26 (new all time high)

There was not enough momentum to go higher and a correction ensued.

9:59------------up 12.41
10:00--------------7.46
10:05--------------0.44---------------3715.03

The market struggles to keep afloat.

10:06--------down 1.48
10:07--------------2.49
10:16-----------up 1.08
10:23--------down 1.14

After failing to stay on the upside, the decline accelerates.

10:25--------down 5.11
10:28--------------7.86
10:30--------------9.03
10:34--------------8.25
10:40-------------13.93------------3700.66

The strength of the support at the 3700 level is once more tested.

10:45--------------9.67
10:46-------------12.77
10:50-------------14.03-----------3700.56

When the market fell below 3700, another round of selling had the market move lower.

10:51-------------16.43-----------3698.16
11:05-------------15.97
11:10-------------16.27
11:13-------------21.00-----------3693.59

An attempt to rebound was made

11:21------------17.29
11:26------------16.83------------3697.76

But investors who opted for cash ahead of the weekend continued to sell when the market failed to go beyond 3700.

11:30-----------20.33
11:31-----------23.12
11:46-----------25.83
11:50-----------26.26
11:53-----------27.59-------------3687.00 (the day's low)

Last minute activity had the Philippine Stock Exchange Index (PSEi ) settle at the 3,7000 level.

11:57------------17.42-------------3696.74
11:58------------25.86------------3688.73
11:59------------21.67------------3692.92
12:01------------13.43------------3701.16 (-0.36%)
Market Close.

Advancers 62
Decliners 56

Value turnover PhP 19.424 bn
Cross transactions PhP 3.825 bn
Block Sales PhP 12 bn

The cross transactions included more than 27 mn shares of MBT at PhP 73.oo worth PhP 2 bn.
The block sale involved almost 5bn shares of CMP shares atPhp 2.46/2.48

Sectoral Indices.
M-O +1.21%
Industrial +1.05%
Financial -0.41%
Holdings -0.59%
Property -0.74%
Services - 0.90%

Closing prices of select stocks - June 22, 2007
ABA - PhP 0.013
ALI - PhP 18.25
AR - PhP 0.017
DGTL - PhP 1.64
EIB - PhP 0.56
LOTO - PhP 16.25
MPI- PhP 4.40
NRCP - PhP 4.50
SUN - PhP 1.24
V - PhP 1.84
WEB - PhP 0.070