The Philippine Stock Market falls through the 3700 level as WallStreet drops more than 200 points (July 25, 2007)

The Dow Jones Industrial Average (DJIA) fell by 226.47 (-1.62%) points overnight and closed at 13716.95.

With Fitch Ratings also expressing its disappointment with the first half fiscal performance of the Philippines, investors were rattled and the local equities market suffered a sell down upon the opening bell.

PSEi previous close - 3706.24 (July 24, 2007)

time------------down-------------PSEi
9:31-----------23.10-------------3683.14

The market immediately falls through the 3700 level and a chart gap is opened at the 3683-3706 levels.

9:32-----------23.88
9:34-----------31.21
9:35-----------37.14

9:36------PhP 44.996 vs $ 1.00

9:38-----------37.58
9:39-----------39.23
9:42-----------41.14
9:43-----------44.97
9:44-----------46.75
9:45-----------48.67
9:46-----------49.38
9:47-----------50.51
9:48-----------53.82
9:50-----------56.29-------------3649.95

The 3650 level is broken and the selling still has not abated.

9:52-----------57.28
9:53-----------59.25
9:56-----------59.37
9:57-----------60.52
9:59-----------61.34
10:00---------61.84
10:01---------63.50
10:02---------64.66
10:03---------65.81

At this point, Losers swamped Gainers 92 to 7. There was still no sign of a rebound.

10:04--------66.59
10:05--------67.08
10:06--------67.50
10:08--------67.73
10:09--------68.82

10:11------PhP 45.009 vs $1.00

10:12--------70.12
10:14--------71.10

Advancers 5, Decliners 106

10:21--------71.82

Advancers 4, Decliners 108

10:22--------72.05
10:23--------73.90
10:24--------74.14
10:28--------74.33
10:31--------74.83
10:32--------75.00
10:33--------76.41
10:34--------76.79
10:35--------79.30
10:36--------82.47-----------3623.77

A minor support at 3620 is found after more than an hour of declines.

10:39--------80.98
10:40--------77.01
10:43--------76.07
10:45--------75.38----------3630.86

After that brief respite, the selling resumed.

10:48--------78.47
10:49--------79.27
10:50--------80.92
10:56--------81.92
10:59--------83.54
11:00--------84.32
11:07--------84.65----------3621.59 (day's low)

The 3620 level again held as a support. A minor recovery ensued in the last 45 minutes of trading.

11:15--------77.81
11:16--------76.50
11:26--------75.87
11:38--------75.29
11:42--------72.17
11:43--------71.37
11:50--------69.35
11:51--------64.45
11:52--------61.07------------3645.17

11:54--------63.06
11:57--------63.70
11:58--------63.25
11:59--------60.35
12:01--------60.73-----------3645.51 (-1.64%)
Market Close.

Advancers 19
Decliners 109

Value turnover: PhP 5.517 bn
Cross transactions: PhP 2.285 bn

Sectoral Indices fell across-the-board.
Services -0.57%
M-O -1.13%
Holdings -1.71%
Financial -1.80%
Industrial -2.00%
Property -2.71%

TOP GAINERS:
Stock-----------Price------------% up
FED-----------PhP 21.00-------44.83
LND-----------PhP 1.44----------9.09
BRN-----------PhP 2.30----------8.49

BIGGEST DECLINERS:
Stock-----------Price------------(% down)
APR-----------PhP 4.10---------(25.45)
JTH-----------PhP 22.00--------(12.00)
FAF-----------PhP 1.04----------(10.34)