The day's market - September 19,2007

Market Comments:

BusinessWorld - September 19, 2007

The US Federal Reserve Board took an aggressive stance in light of the sub prime lending woes. It cut its rates by 50 basis points from 5.25% to 4.75%.
Th Dow Jones Industrial Average (DJIA) surged by 335.97 points (+2.51%) and closed at 13739.39
The huge advance lifted the local equities market above the 3300 level.

PSEi previous close - 3289.75 (September 18, 2007)

time------------up-------------PSEi
9:31----------0.13-----------3289.88

At the opening, the PSEi registered only a slight gain. Was the computer or the index slow to adjust to opening surge? Anyway, because of this, there was no chart gap opened.

9:32---------68.87-----------3358.42
9:33---------69.94
9:34---------77.21
9:35---------81.52
9:36---------86.93

9:37---------84.49
9:39---------85.30
9:40---------93.36
9:41---------97.06----------3386.81 (the day's high)

This closed the chart gap at the 3382-3336 levels opened when the market dropped upon the opening bell last August 10, 2007.


9:43--------88.71
9:44--------89.13
9:45--------91.20
9:46--------91.31
9:51--------94.23
9:55--------94.79----------3384.54

The market gives back some of the day's gains.

10:00-------88.08
10:05-------87.77
10:07-------82.47
10:09-------79.07
10:10-------77.94
10:16-------76.79
10:20-------75.09
10:32-------70.05
10:36-------68.56
10:39-------72.06
10:39-------65.80
10:40-------64.54---------3354.29

The PSEi moves below the 3350 level in the next hour of trading.

10:43-------59.76--------3349.51
10:45-------57.17
10:49-------56.98
10:53-------56.28
10:54-------54.70-------3344.45
11:00-------57.26
11:04-------58.04
11:09-------55.47
11:18-------55.13
11:26-------60.02------3349.77

The markets moves past and holds above the 3350 level.

11:34------62.23-------3351.98
11:39------66.04
11:44------67.71
11:47------70.41
11:50------75.45
11:52------66.29
11:56------65.92
12:01------73.23-------3362.98 (+2.23%)
Market Close.

Value turnover: PhP 3.957 bn
Cross transactions: PhP 1.418 bn

Support is currently seen at the 3320-3330 levels. Resistance is at the 3400-3411 levels.

Sectoral Indices were up across-the-board.
Property +3.69%
M-O +3.66%
Services +1.85%
Industrial +1.85%
Financial +1.57%
Holdings +1.33%

The Day's Top Gainers
ATSP: PhP 4.60; +39.39%
NI: PhP 14.00; +30.23%
ICTV: PhP 2.06; +15.73%
MIC: PhP 5.30; +15.22%
OM: PhP 0.013; +8.33%
BHI: PhP 0.20; +8.11%
ATS: PhP 1.64; +7.89%
BC: PhP 11.50; +6.98%
LC: PhP 0.32; +6.67%
MUSX: PhP 1.30; +6.56%

The Day's Top INDEX ISSUE Gainers
LC: +6.67%
PCOR: +5.88%
MEG: +4.84%
SMPH: +4.76%
PX: +4.55%

There was no index issue decliner.

The Day's Biggest Decliners
PGPI: PhP 130.00; -13.33%
DIZ: PhP 3.00; -6.25%
MED: PhP 0.50; -5.66%
OPMB: PhP 0.024; -4.00%
BSC: PhP 0.32; -3.03%