The day's market - August 08, 2008

The National Statistics Office (NSO) reported that higher costs of food and electricity pushed Philippine inflation to 2.6% in July from 2.3% the previous month.

The Dow Jones Industrial Average (DJIA) traded lower for most of the session but managed to advance by 35.52 points to close at 13504.30.

The momentum from yesterday's strong advance carried the market higher but with a lot of caution.

PSEi previous close - 3348.34 (August 07, 2007)

time-----------up------------PSEi
9:31---------3.47-----------3351.81
9:32---------7.92
9:33--------10.92
9:34--------14.65
9:35--------15.51
9:36--------16.21
9:38--------19.93
9:41--------21.27----------3369.61

9:44--------17.18
9:46--------20.34
9:48--------23.09---------3371.35

After the initial market advance, the PSEi consolidated at levels just above the 3370 level.

9:51--------26.31
9:52--------27.02

10:00-------26.48
10:04-------21.73

10:06-------24.92
10:08------25.40

10:10------30.49
10:13------32.38
10:14------36.88----------3385.22

10:18------32.37
10:19------27.79

10:27------33.75
10:28------35.32
10:29------37.18---------3385.52

10:47------29.93---------3378.27
11:00------34.20
11:07------38.01---------3386.3 (the day's high)

11:18------31.01
11:23------26.36
11:31------25.93---------3374.27
11:44------26.65
11:52------26.96
11:54------28.22
12:01------27.57---------3375.91 (+0.82%)
Market Close.

Advancers 93
Decliners 28

The 3385 - 3400 is the immediate resistance. This may be tested although the market momentum is somehow losing steam.
Asian equities markets were up in the morning trade.

Value turnover: PhP 4.683 bn
Cross transactions: PhP 2.468 bn


Sectoral Indices.
Financial +1.78%
M-O +1.63%
Property +1.31%
Industrial +1.30%
Holdings +0.55%
Services -0.18%


Top Gainers
Stock-------Price---------% up
IS---------PhP 0.017-----21.43%
APR--------PhP 3.60------20.00%
BKD--------PhP 1.60------17.65%
SINO-------PhP 0.37------12.12%
PCP--------PhP 0.39------11.43%

Biggest Decliners
Stock-------Price-------(% down)
T----------PhP 15.75----(11.27%)
ALHI-------PhP 8.10-----(10.00%)
NI---------PhP 13.75-----(8.33%)
GEO--------PhP 1.78------(8.25%)
APX--------PhP 4.65------(7.00%)



Today was the listing of Anchor Land Holdings, Inc. (ALHI) with just had its initial Public offering (IPO). Its offering price was at PhP 8.93

Anchor land Holdings, Inc (ALHI)
open PhP 6.10
low PhP 6.10
high PhP 8.90
close PhP 8.10

Value turnover: PhP 5,249,000 shares
Volume turnover: PhP 43,258,400