The day's market - December 20, 2007

DOW JONES INDUSTRIAL AVERAGE (DJIA)summary
Index Value: 13,207.27
Trade Time: Dec 19
Change: Down 25.20 (-0.19%)
Prev Close: 13,232.47
Open: 13,231.98
Day's Range: 13146.79 - 13300.43

The market moved sideways. It consolidated with an upward bias after the declines in the past four trading days.

PSEi previous close - 3466.28 (December 19, 2007)

time-----------up------------PSEi
9:31----------1.39----------3467.67
9:32----------0.86----------3467.14 (day's low)
9:33----------2.52
9:34----------9.38
9:35---------10.11

9:36----------8.85
9:38----------9.00

pHp 41.756 VS us$ 1.00

9:40---------11.74
9:44---------13.67-----------3479.95

The 3480 level is initially tested.

9:51---------13.00
9:54---------10.10
9:56----------9.50
10:02---------9.74
10:05--------10.88

PhP 41.789 VS US$ 1.00

10:19--------11.09
10:23--------12.65
10:28--------13.33
10:29--------15.25------------3481.53.

The PSEI continues to consolidate at the 3480 level.

10:34--------14.34
10:38--------12.22
10:46--------13.66
10:51--------13.26
10:53--------14.03
10:58--------14.03

Advancers 34 Decliners 30

11:00--------15.82
11:01--------18.69
11:04--------16.92
11:09--------14.17-----------3480.45

PhP 41.781 vs $US 1.00

11:10--------15.60
11:12--------16.00
11:14--------15.32
11:19--------15.32

Value turnover is still at a measly PhP 900mn at this point.
Advancers 35 Decliners 41

11:20--------16.52
11:21--------17.48
11:22--------14.77
11:27--------14.10
11:30--------13.43------------3479.71

Value turnover just reached the 1 billion peso mark.
Trading picks up in the last hour of trading. Value turnover increases significantly.

11:31--------13.88
11:32--------14.96
11:33--------16.67
11:39--------16.95
11:40--------17.41

PhP 41.780 vs US$ 1.00

11:41--------18.34
11:42--------19.95

11:46--------19.46
11:51--------19.35
11:52--------17.86
11:53--------21.47
11:54--------23.40
11:55--------22.42
11:57--------21.76
11:58--------21.05
11:59--------24.58
12:01--------25.68------------3491.96 (+0.74%)
Market Close.

Advancers 51
Decliners 38

Value turnover: PhP 3.020 bn
Cross transactions: PhP 1.365 bn

The rally late in the trading session had the market close at its day's high. Accompanied with an increase in turnover, the momentum has the market within striking distance of the 3500 level. This is expected to be challenged before the market closes for the long Christmas weekend break.
The DJIA must hold above the 13000 level to prevent further confidence erosion and bouts of panic selling in the local equities market.

Sectoral Indices closed higher across-the-board.
Property +1.35%
Holdings +0.83%
Financial +0.75%
M-O +0.48%
Industrial +0.45%
Services +0.41%

The Day's Top Gainers:
VVT: PhP 1.80; +50.00%
JTH: PhP 4.60**; +22.67%
PHES: PhP 0.34; +13.33%

**JTH price was adjusted because of a 600% stock dividend. From PhP 26.50, the previous close was changed to PhP 3.75

The Day's Biggest Decliners:
ZHI: PhP 0.50; -13.79%
FAF: PhP 0.92; -8.00%
PWR: PhP 0.38; -7.32%