The day's market - October 23, 2007

Market comments on yesterday's trading:

BusinessWorld - October 23,2007


The Dow Jones Industrial Average (DJIA) ended with a gain of 44.95 points (+0.33%) to close at 13566.97. It was another volatile day of in WallStreet. The DJIA was down by more than 100 points in the earlier part of the trading day before recovering.
Prev Close: 13,522.02
Day's Range: 13,407.49 - 13,587.22

This recovery in the US equities market and the possibility that Friday's blast at the Glorietta mall may have been accidental rather than a terrorist or direct attack had the local equities market rebound from its deep losses yesterday.

PSEi previous close - 3667.87 (October 22, 2007)

time----------up----------PSEi
9:31--------0.68--------3668.55
9:32-------18.52
9:35-------20.05
9:37-------23.94
9:39-------25.25
9:43-------29.96
9:44-------31.77
9:49-------32.28--------3700.15

The 3700 level was easily breached and the advance accelerates.

9:50------34.46
9:51------37.35
9:52------40.43

Advancers 54 Decliners 3

9:53------42.08
9:55------44.58
9:56------44.97
9:57------45.26
9:58------49.65
9:59------50.36
10:01-----51.41
10:02-----53.29-------3721.16

10:07-----55.05
10:09-----56.16
10:10-----58.42

Advancers 74 Decliners 7

10:12-----58.81
10:15-----59.01------3726.88

10:16-----54.63
10:17-----52.66
10:20-----51.09
10:22-----50.04------3717.91

10:30-----57.04
10:31-----61.53------3729.40 (day's high)

Advancers 79 Decliners 8

10:34-----60.50
10:36-----58.72
10:37-----57.15
10:39-----54.71
10:39-----59.09

Asian equities markets were up at this point.

10:42-----58.13
10:44-----55.25
10:45-----54.62
10:48-----51.01
10:52-----49.92
10:54-----48.55

Advancers 73 Decliners 17

10:58-----46.20
11:01-----41.66------3709.53

11:05-----48.20
11:07-----43.81
11:09-----44.45
11:19-----45.24

11:24-----36.06
11:27-----35.73

Advancers 59 Decliners 37

11:31-----35.45-----3703.32
11:35-----31.14-----3699.01

The 3700 level was not able to hold and the PSEi falls through.

11:38-----28.21-----3696.08
11:40-----27.78
11:43-----23.65
11:44-----20.68-----3688.55

11:46-----22.30
11:47-----23.90
11:51-----21.87
11:54-----21.17
11:55-----20.23
11:57-----23.35
11:58-----20.84----3688.71
12:01-----29.30----3697.17 (+0.80%)
Market Close.

Advancers 58
Decliners 45

Value turnover: PhP 3.729 bn
Cross transactions: PhP 1.135 bn
Block Sales: PhP 446 mn

Panic seems to have subsided and this is a good sign. Though the market had a good rebound; caution is still the order of the day. Most of the day's gains were given up easily.
Also, there is no new news or development that could propel the market higher immediately at this point. Rather, recent events even tend to dampen investor sentiment. Besides, WallStreet is still prone to high volatility movements and the local equities market can still feel its reverberations.

Sectoral Indices.
Property +1.66%
Holdings +0.76%
Services +0.72%
Industrial +0.66%
Financial +0.45%
M-O -0.18%

The Day's Top Gainers:
ATNB: PhP 2.80; +42.86%
CHI: PhP 4.35; +7.41%
BRN: PhP 1.36; +6.25%
EEI: PhP 5.30; +6.00%
DGTL: PhP 1.48; +5.71%

The Day's Biggest Decliners:
PHES: PhP 0.35; -10.26%
ATRK: PhP 4.10; -8.89%
ABAB: PhP 0.011; -8.33%
PECB: PhP 23.00; -8.00%
APM: PhP 0.015; -6.25%