The day's market - September 03, 2007

The Dow Jones Industrial Average (DJIA) was up by 119.01 points on Friday and closed at 13357.74

PSEi previous close - 3365.39 (August 31, 2007)

open - 3370.93 (up 5.64 pts)

The market opened relatively flat and was undecided on where to go. After 10 minutes of switching from the positive and negative territory, it started to gain momentum and reached a high of 3379.63 (up 14.34 points) by 10:00 am.

It managed to stay on the upside for the next thirty minutes. The market then slowly declined and reached a low of 3356.41 (down 8.88 points) by 11:00 am.

The rest of the trading day was uneventful and the market managed to eke out a small gain at the end of the trading session.

close - 3369.14 (up 3.85 points or 0.11%)

Advancers 55
Decliners 57

The market tried to close the gap at the 3382 level but fell a bit short. The momentum seems to have faltered. The sentiment that fueled the nearly 150 point rally in the last two days of last week; seems to be fading. A new confidence boost is needed or a consolidation may be seen. There were several chart gaps opened during the market's recent rally in the past two weeks.

Value turnover: PhP 4.412 bn
Cross transactions: PhP 1.313 bn
Block Sales: PhP 473 mn

Sectoral Indices.
Financial +1.36%
Holdings +1.04%
Services +0.47%
M-O +0.34%
Property -0.53%
Industrial -2.57%

The Day's Top Gainers:
SEVN: PhP 4.30; +43.33%
REG: PhP 2.00; +17.65%
COL: PhP12.25; +11.36%
ABAB: PhP 0.011; +10.00%
AR: PhP 0.011; +10.00%

The Day's Biggest Decliners:
JTH: PhP 13.50; -22.86%
MER: PhP 90.00; -12.62%
ICTV: PhP 2.08; -9.57%
BPC: PhP 4.05; -7.95%
ATN: PhP 3.00; -7.69%