The day's market - September 26, 2007

The Dow Jones Industrial Average (DJIA) closed higher by 19.59 points to end at 13778.65.
The local equities market seems to have found a support at the 3400 level. After the small cap issues took center stage the past day's, select blue chips buoyed up the market today.

PSEi previous close - 3440.67 (Septemebr 25, 2007)

time--------------up---------------PSEi
9:31------------9.86--------------3450.53

The lower limit of the 3450-3480 immediate resistance was immediately breached. PLDT opened at PhP 2835 from its previous close of PhP 2800

9:36-----------16.79-------------3457.46

PLDT was at PhP 2855

9:37-----------22.83-------------3463.50

PLDT at PhP 2865. Advancers 25 Decliners 10
Services +1.65%
Property +0.23%
Financial +0.19%
Industrial +0.10%
Holdings +0.05%
M-O -0.53%

9:38------------28.89

Advancers 28 Decliners 12

9:39------------31.60
9:40------------34.95------------3475.62

Advancers 30 Decliners 10. A slight pullback ensued before the 3480 level is challenged.

9:41------------31.52
9:42------------29.87
9:43------------28.48
9:45------------27.49------------3468.16

9:48------------30.92
9:49------------37.20
9:51------------35.71
9:53------------42.16------------3482.83

The 3480 level is broken and the market tries to move to higher levels.

Services +1.85%
Property +1.57%
Industrial +0.69%
Financial +0.54%
Holdings +0.53%
M-O -1.35%

9:56------------41.65
9:57------------42.87
9:58------------50.98------------3491.38 (day's high)

Advancers 42 Decliners 20

9:59------------45.11
10:02-----------43.74

10:07-----------49.04
10:22-----------45.41

The number of decliners is increasing. Advancers 44 Decliners 33

10:23-----------46.99

Advancers 44 Decliners 36

10:26-----------47.03
10:31-----------40.10
10:37-----------39.86----------3480.53

The PSEi just hovered at around the 3480 as the market failed to advance further. The M-O sector deepens its losses and so do the number of decliners.
Advancers 43 Decliners 39.

Services +1.90%
Property +1.55%
Industrial +0.47%
Holdings +0.44%
Financial +0.41%
M-O -1.89%

10:46---------38.78
11:00---------37.46

Losers now outnumbered Gainers. Advancers 41 Decliners 47

11:10---------36.38
11:13---------35.35

Advancers 40 Decliners 52

11:15---------34.21
11:17---------32.63
11:21---------32.20

Advancers 37 Decliners 54

11:31---------32.05------------3472.72

Advancers 37 Decliners 59

Services +1.89%
Property +0.80%
Holdings +0.34%
Industrial +0.26%
Financial +0.145
M-O -1.93%

11:34--------36.31
11:49--------36.52
11:51--------40.90

Advancers 42 Decliners 61

11:52--------35.81
11:54--------33.98

Advancers 41 Decliners 64

11:56-------34.05

Advancers 41 Decliners 70

12:01-------35.08--------------3475.75 (+1.02%)
Market Close.

Advancers 44
Decliners 65

Value turnover PhP 2.827 bn
Cross transactions PhP 948 mn

Sectoral Indices
Services +1.66%
Holdings +0.99%
Property +0.81%
Industrial +0.34%
Financial +0.26%
M-O -1.17%

Most of the market's gains of 35.08 pts today, was courtesy of three stocks only. These were blue chips PLDT or TEL(+14.82 pts), ALI (+8.77 pts) and AC (+6.07%pts).

Decliners outnumbered gainers as the smaller cap issues (mostly in the M-O sector)fell to selling/profit taking. Gold prices fell more than $6.00 and was below the $730 an ounce level.

Value turnover was also thinner than usual.

If the DJIA does not fall and if the new Senate investigations that allege Comelec Chairman Abalos of committing bribery does not rattle investors anew; third quarter window dressing may have the market testing the 3480-3500 resistance.

The Day's Top Gainers:
MED: PhP 0.65; +30.00%
ICTV: PhP 3.75; +25.00%
DHC: PhP 9.00; +21.62%
PRIM: PhP 0.90; +20.00%
ZHI: PhP 0.60; +13.21%
PA: PhP 0.19; +11.76%

The Day's Biggest Decliners:
CAT: PhP 2.24; -38.63%
SGI: PhP 0.61; -20.78%
BCI: PhP 13.50; -11.48%
MB: PhP 0.92; -8.00%
HI: PhP 1.88; -7.84%
AR: PhP 0.012; -7.69%