Very volatile trade in the Philippine Stock Market - August 02, 2007

The Dow Jones Industrial Average (DJIA) was higher by 150.38 points in WallStreet overnight to close at 13362.37. This spurred an immediate buying reaction from local investors and the market jumped upon the opening.

PSEi previos - 3426.45 (August 01, 2007)

time --------------change---------------PSEi
9:31-------------up 27.02---------------3453.47
9:32----------------29.45
9:33----------------31.08
9:33----------------34.30
9:34----------------37.27
9:35----------------38.66
9:39----------------39.29
9:41----------------41.14----------------3467.59 (the day's high)

After just a few minutes, the market reached its high and buying tapered off.

9;44----------------34.09
9:46----------------33.33
9:47----------------28.95
9:48----------------31.67
9:54----------------29.45
10:00--------------24.85

The market moves below the market open and the 3,450 proves to be very weak.

10:03--------------24.60
10:05--------------23.51
10:12--------------22.58------------------3449.03

Selling accelerates.

10:16--------------19.55
10;17--------------16.74
10:20--------------15.01
10:22--------------11.90
10:24---------------9.66
10:25---------------7.40
10:27---------------6.30
10:28---------------2.70
10:29---------------1.08

After an hour of trading, the market gives back its gains. The market moves into negative territory. Another wave of selling ensues.

10:30----------down 0.24
10:31-----------------1.17
10:32-----------------2.91

At this point, Decliners (63) heavily outnimbered Gainers (28) already.

10:34-----------------3.29
10:35-----------------5.14
10:37-----------------6.99
10:39-----------------8.64
10:43-----------------9.72
10:44----------------13.23
10:45----------------17.91
10:46----------------19.17
10:48----------------23.50
10:49----------------26.05------------------3400.40

The 3400 breaks and panic selling grips the market.

10:50----------------27.55
10:51----------------28.51
10:52----------------32.89
10:53----------------36.27
10:54----------------39.47
10:55----------------44.51
11:00----------------46.36
11:01----------------50.14
11:04----------------54.68
11:05----------------63.08---------------3363.37

The Chart gap at the 3364-3381 is closed.

11:07----------------64.26
11:09----------------67.93
11:12----------------69.75
11:19----------------73.42

11:22----------------72.27
11:23----------------76.22

11:30----------------70.82
11:32----------------78.36---------------3348.09 (day's low)

The market consolidates above the 3350 level in the last 20 minutes of trading.

11:40----------------74.48--------------3351.97
11:46----------------66.47
11:52----------------65.84
11:55----------------62.71--------------3363.74
11:59----------------63.49
12:01----------------67.43--------------3359.02 (-1.97%)
Market Close.

Advancers 14
Decliners 132

It was more than a hundred point swing from the PSEIs high to its low intraday reflecting the market's volatility. There were only 3 index issue gainers.

Value turnover: PhP 7.642 bn
Cross transactions: PhP 2.205 bn
Block Sales: PhP 400 mn

Sectoral Indices fell across-the-board.
M-O -5.48%
Property -3.54%
Holdings -2.90%
Industrial -2.12%
Financial -2.06%
Services -0.07%


--------------GMA7-----------GMAP
open---------PhP 11.50------PhP 11.25
high---------PhP 11.50------PhP 11.25
low----------PhP 10.25------PhP 10.00
close--------PhP 10.50------PhP 10.25