Market volatility still hounds investors - August 13, 2007

The Dow Jones Industrial Average (DJIA) on Friday was down by more than 200 points at one point; before rebounding to limit its losses to 31.14 (-0.23%) points and close at 13,239.54. Even with the US Federal Reserve and European Central Bank infusing much needed liquidity into the markets, worries on the extent and possible contagion of US sub-prime home lendings continue to rattle investors. Even acquisitions and mergers which had been driving up WallStreet the past months, are now affected because of credit concerns.

All these factors now weigh on the local equities market.



PSEi previous close - 3281.96 (August 10, 2007)

time------------change----------PSEi
9:31----------down 2.09---------3279.87
9:32---------------4.28
9:35---------------0.43

9:38-----------up 10.55---------3292.51
9:40--------------13.32
9:41--------------14.02
9:44--------------16.38
9:55--------------18.25---------3300.21

The 3300 level was breached and the market tries to advance some more.

9:59----------up 23.77
10:07------------26.01
10:10------------27.44
10:13------------28.28-----------3310.24 (day's high)

The market still lacked the much needed confidence to sustain a rebound.

10:16---------up 24.37
10:20------------21.29
10:26------------21.15
10:31------------20.49
10:34------------17.84-----------3299.80

The market moves lower than the 3300 level.

10:38---------up 16.56
10:41------------15.04
10:42------------13.44
10:46------------12.50
10:47------------10.89-----------3292.85

Another attempt to go over the 3300 level is made.

10:57---------up 13.34
11:02------------16.10-----------3298.06

Failing to hurdle the 3300 level again, the market trends lower.

11:08---------up 14.39
11:29------------11.17
11:26-------------7.74
11:33-------------5.63
11:35-------------5.26
11:36-------------2.04
11:38-------------0.38

The market fails to hold on to its day's gains and moves into negative territory.

11:39-------down 1.48------------3280.48
11:40------------2.19
11:42------------5.62
11:44------------8.19
11:45------------9.35
11:55-----------11.26
11:58-----------13.52
12:01-----------14.93------------3267.03 (-0.45%)
Market Close.

The Philippine Stock Market closed at its day's low. Its movement is still very unpredictable and the volatility scares off investors because of uncertainty it gives. Not only does sentiment vary day-to-day but within the half-day trading session itself; the mood of the market can suddenly reverse and catch investors off-guard.

Advancers 28
Decliners 83

Value turnover: PhP 3.711 bn
Cross transactions: PhP 1.596 bn
Block Sales: PhP 308 mn

Sectoral Indices:
Services +0.25%
Property -0.56%
Industrial -0.62%
M-O -0.79%
Financial -1.03%
Holdings -1.24%

TOP GAINERS:
1. ATRK: PhP4.50; +18.42%
2. T: PhP14.25; +9.62%
3. RFM: PhP1.60; +6.67%

WORST DECLINERS:
1. AB: PhP5.80; -37.63%
2. DIZ: PhP3.30; -16.46%
3. ZHI: PhP0.60; -14.29%
4. FAF: PhP0.95; -12.04%
5. GO: PhP 0.27; -10.00%

VALUE TURNOVER:
1. MAC: PhP494 mn (close: PhP4.80; -2.04%)
2. TEL: PhP 263 mn (close PhP2570.00; +0.59%)
3. MBT: PhP162 mn (close PhP58.00; +0.87%%)

VOLUME TURNOVER:
1. OPM: 462 mn (close: PhP0.018; -5.26%)
2. OV: 453 mn (close PhP0.019; -5.00%)
3. MA: 181 mn (close PhP0.022; -4.35%)