The day's market - June 26, 2007

Market comments

BusinessWorld - June 26, 2007

With WallStreet almost flat, the market had no clear lead to follow.

PSEi previous close - 3653.58 (June 26, 2007)

time------------change-----------PSEi
9:31---------down 4.95----------3648.63
9:32--------------9.22
9:33--------------7.00
9:36--------------2.72
9:38-----------up 0.42----------3654.00

The PSEi tried to advance but with the market still into its consolidation mode, it continued its decline.

9:39---------down 4.15
9:42--------------7.83
9:44--------------8.52
9:47-------------10.11
9:56-------------14.09
10:12------------14.46----------3639.12 (the day's low)

The index tried to close the gap at 3633 but local investors bought up bargains and the market reversed from its downtrend.

10:19--------down 7.93
10:20-------------4.02
10:21-------------2.84
10:22-------------0.50----------3653.05

The market moves into positive territory and advance accelerates.

10:23-----------up 0.39
10:24--------------3.47
10:25--------------4.55
10:26--------------4.98
10:27--------------8.85
10:30-------------11.80
10:32-------------12.08
10:33-------------13.20
10:35-------------15.02
10:43-------------15.51
10:53-------------21.58
10:58-------------25.42----------3679.00

Correction and profit taking sets in. The 3680 level was seen as a resistance.

10:59-------------19.16
11:07-------------19.02

Another attempt to spur the market to continue advance.

11:13------------27.12------------3680.70 (day's high)

The day's high was reached near the resistance; and it encountered selling pressure at once.

11:15------------20.97
11:20------------18.09

A last ditch effort to sustain and keep the day's gains.

11:23------------23.46
11:25------------24.14

Profit taking and increased selling pressure late in the trading day had the market going downhill the rest of the session.

11:28-------------20.80
11:31-------------16.99
11:39-------------14.49
11:46-------------14.41
11:50-------------12.43
11:51-------------11.57
11:54--------------9.42
11:55--------------8.93
11:56--------------7.63
11:58--------------2.72
11:59--------------2.65
12:01--------------3.54------------3657.12(+0.10%)
Market Close.

Advancers 40
Decliners 94

Value turnover PhP 5.322 bn
Cross transactions PhP 1.389 bn

Sectoral Indices.
Industrial +1.09%
Services +0.84%
Property -0.01%
Holdings -0.20%
Financial -1.18%
M-O -1.44%

Closing prices of selected stocks - June 26, 2007
ABA - PhP 0.013
ALI - PhP 18.00
AR - PhP 0.016
DGTL - PhP 1.60
EIB - PhP 0.57
LOTO - PhP 15.75
MPI - PhP 4.40
NRCP - PhP 4.40
SUN - PhP 1.10
V - PhP 1.78
WEB - PhP 0.065