The day's market - June 27, 2007

The Dow Jones Industrial Average (DJIA) ended lower overnight despite gains early in the session. It ended lower by 14.39 points to close at 13337.66.

PSEi previous close - 3657.12 (June 26, 2007)

time----------down-----------PSEi
9:31----------10.18-----------3646.94
9:34----------18.91
9:36----------21.63-----------3635.49

The chart gap at 3633 is almost closed and the market tries to rally.

9:37---------17.67
9:40---------15.63------------3641.49

Trading of PLDT (TEL) shares opened with a transaction at PhP 2600 (from a previous close of PhP 2670) and being an index heavyweight; the impact on the Philippine Stock Exchange Index (PSEi) was immediate.

9:41---------37.42
9:43---------37.94------------3619.18

At this point, PDT shares traded higher and the index recovers just as fast. Minor support was at 3620.

9:44---------27.13-----------3629.99 (PLDT at PhP 2630)
9:45---------14.24-----------3642.88 (PLDT at PhP 2670)
9:48---------10.61
9:51----------4.79
10:07--------1.96------------3655.16

The market has recovered its early losses and was poised to go higher. But a sudden selloff among thirdliner issues kept the market from going higher and kept it in negative territory.

10:08--------7.02
10:12--------3.48
10:18--------8.49
10:21--------8.65

The selldown turns into panic.

10:30-------18.06
10:35-------21.77
10:42-------23.42-----------3633.70

10:45-------26.11
10:47-------32.43
10:50-------36.67-----------3620.45

The minor support at 3620 was easily broken and the downtrend accelerates. The selloff continued.

10:51--------38.54----------3618.58
10:54--------39.47
10:55--------43.60
11:00--------46.36
11:03--------48.05
11:06--------53.06
11:09--------55.31
11:15---------55.40---------3601.72

The 3600 level was easily broken.

11:17---------62.25---------3594.87
11:21---------66.53
11:21---------63.48
11:25---------70.43---------3586.69

11:28---------69.69
11:31---------67.66

11:34---------71.88
11:38---------72.34
11:39---------72.38
11:44---------72.55
11:52---------78.81----------3578.31 (the day's low)

11:57---------73.06
11:58---------68.34
11:59---------73.00
12:01---------69.91---------3587.21 (-1.91%)
Market Close.

Advancers 14
Decliners 139

There was only one index issue gainer.
Most asian markets were down and the peso was above the PhP 46.40 level in the morning sessions.

Value turnover PhP 5.561 bn
Cross transactions PhP 1.583 bn

Sectoral Indices were down across-the-board.
M-O -3.81%
Financial -2.47%
Property -2.06%
Holdings -2.00%
Services -1.65%
Industrial -1.41%

Closing prices of select stocks - June 27, 2007
ABA - PhP 0.013
ALI - PhP 17.50
AR - PhP 0.015
DGTL - PhP 1.56
EIB - PhP 0.54
LOTO - PhP 15.50
MPI - PhP 4.30
NRCP - PhP 4.35
SUN - PhP 0.99
V - PhP 1.74
WEB - PhP 0.060