The day's market - July 10, 2007

The market continues its consolidation mode but with a negative bias.

PSEi previous close - 3744.05 (July 9, 2007)

time------------change------------PSEi
9:31------------up 1.18-----------3745.23
9:32---------------2.53-----------3746.58 (day's high)

The market's feeble attempt to make inroads in today's trade is very shortlived.

9:33--------down 7.61------------3736.44
9:34-------------13.09
9:37-------------16.46-----------3727.59

9:38--------------8.33-----------3735.72

9:39-------------18.87-----------3725.18

The minor support at 3720 seems to hold. The PSEi then moved in a narrow range above this level.

9:40------down 16.21
9:41-------------14.88
9:44-------------14.51----------3729.54

9:45-------down 18.26----------3725.79
9:46-------------17.55
9:48-------------18.54
9:49-------------16.59
9:50-------------15.65

At this point, activity in the second and third liners pick up.

9:52------down 12.63 (Advancers 29; Decliners 33)
9:59------------12.63 (Advancers 32; Decliners 33)

The market tries to rally in the next half hour on back of brisk trading in the smaller cap issues.

10:00-----down 6.68------------3731.37
10:01-----------6.36 (Advancers 32; Decliners 30)

10:06----------8.41
10:07----------6.76
10:08----------5.00
10:11-----------4.43 (Advancers 40; Decliners 38)

10:14-----down 7.10 (Advancers 45; Decliners 37)
10:26-----------5.75
10:28-----------5.08------------3738.97

The market encounters a resistance at 3740. In the next half hour it trades between the 3730 - 3740 range.

10:30-----down 6.44
10:38-----------9.73
10:39----------10.39
10:40----------11.67
10:42----------12.58------------3741.47

Decliners now lead Advancers at 51 to 44.

10:47-----down 7.18
10:53---------10.11
10:55---------10.63
10:58---------11.73
10:59---------12.14
11:02---------13.80-----------3730.25
-
11:03-----down 9.49
11:04-----------8.83-----------3735.22

11:06-----down 13.35
11:07-----------14.24
11:14-----------14.99
11:15-----------16.11
11:23-----------17.34----------3726.71

The market tries to stay above 3730.

11:24------down 13.75--------3730.30
11:29------------14.42
11:30------------15.22
11:39------------13.06
11:40------------12.56
11:42------------11.41--------3732.64

A mild sell off in the last 10 minutes of trade had the market close at its day's low.

11:50------down 13.30
11:53------------14.49
11:55------------14.95
11:56------------15.08
11:57------------18.89
11:58------------20.42
12:01------------23.09---------3720.96 (-0.62%)
Market Close.

Advancers 43
Decliners 73

Value turnover PhP 22.585 bn
Cross transactions PhP 1.860 bn
Block Sales PhP 17.186 bn

The block sale included the secondary offer of 3 billion shares of EDC at PhP 5.70

Sectoral Indices were down across-the-board.
Property -1.14%
Financial -1.03%
Holdings -0.55%
Services -0.43%
Industrial -0.13%
M-O -0.13%

Closing prices of select stocks - July 10, 2007
ABA - PHP 0.013
ALI - PhP 17.50
DGTL - PhP 1.58
EIB - PhP 0.55
GO - PhP 0.29
GOB - PhP 0.30
LOTO - PhP 15.50
MPI - PhP 4.25
NRCP - PhP 4.30
SUN - PhP 0.91
V - PhP 1.82
WEB - PhP 0.060