The day's market - October 11,2007

The Dow Jones Industrial Average (DJIA) retreated by 85.84 points to close at 14078.69.

PLDT ADRs were down by $1.61 to end at $69.11. Converting at PhP 44.20 (which is at seven year high levels agains the dollar); this comes out at PhP 3054. PLDT closed yesterday at PhP 3135. The market was headed for a retreat early on.

Also, as the US market failed to ride on its momentum from the previous day, profit takers took the cue to lock in gains. Other investors also opted to cash out ahead of the long weekend.

PSEi previous close - 3834.71 (october 10, 2007)

time-------------down-------------PSEi
9:31------------17.16------------3817.55

Advancers 8 Decliners 14. PLDT opened at PhP 3100.

9:32------------20.05
9:33------------24.65
9:35------------25.77
9:36------------27.55------------3807.16

Advancers 11 Decliners 22

9:41------------24.33
9:46------------26.39
9:48------------27.60
9:49------------29.25
9:51------------32.29------------3802.42

The 3800 level was tested.

9:53------------35.32------------3799.39
9:55------------35.00
9:56------------34.69------------3800.02

The 3800 gave way and the drop accelerates.

9:57------------36.97------------3797.74
10:00-----------37.98
10:01-----------41.33
10:02-----------42.98
10:03-----------44.63
10:06-----------45.12

10:11-----------43.90
10:16-----------44.08
10:17-----------47.26
10:18-----------48.05------------3786.66 (the day's low)

10:27-----------43.86
10:32-----------39.74
10:36-----------39.49
10:38-----------37.01
10:39-----------34.94------------3799.77

The PSEi is back hovering at the 3800 level.

10:41-----------36.16-------------3798.55
10:46-----------35.59
10:47-----------32.55-------------3802.16
10:51-----------33.48
10:56-----------31.76
10:57-----------35.03-------------3799.68
11:03-----------31.13-------------3803.58

The market hurdles the 3800 level and stays above it.

11:05-----------29.27-------------3805.44
11:06-----------28.63
11:08-----------25.75

Advancers 38 Decliners 56

11:09-----------30.84-------------3803.87
11:12-----------24.07
11:14-----------22.14
11:15-----------20.88-------------3813.83

Advancers 40 Decliners 53.
The market moves sideways in the next 30 minutes.

11;16-----------18.14
11:19-----------17.56
11:20-----------15.92
11:23-----------17.09
11:25-----------15.51
11:33-----------17.09
11:41-----------19.08
11:46-----------17.49
11:50-----------17.36

The losses are further limited in the last 10 minutes of the trading session.

11:51-----------12.27
11:52-----------12.36
11:53-----------10.02
11:56------------9.23
11:57-----------11.89
11:59-----------13.51
12:01-----------10.51-------------3824.20 (-0.27%)
Market Close.

Advancers 61
Decliners 46

Value turnover: PhP 3.841 bn
Cross transactions: PhP 1.516 bn

The market has shown considerable resiliency by closing above the 3800 level. Trading in the smaller cap issues has propped up investor sentiment and enabled gainers to outnumber losers despite the market decline.

Sectoral Indices were mixed.
Holdings +0.53%
Financial +0.44%
Industrial +0.26%
M-O -0.06%
Property -0.57%
Services -0.89%

The Day's Top Gainers:
CHTR: PhP 40.00; +33.33%
ICTV: PhP 4.10; +28.12%
FAF: PhP 1.10; +22.22%
GO: PhP 0.35; +16.67%
MPIW: PhP 4.25; +14.86%
SPC: PhP 2.40; +14.29%

The Day's Biggest Decliners:
ROX: PhP 2.55; -7.27%
OM: PhP 0.013; -7.14%
OMW2: PhP 0.0085; -5.56%