The day's market - January 24, 2008

The big turn-around in WallStreet boosted the local equities market. The Philippine Stock Exchange Index (PSEi) jumped from the opening bell.

PSEi previous close - 3058.26 (Januatry 23, 2007)

time--------------up-----------PSEi
9:31------------62.86---------3121.12

The target at the 3121-3129 levels was immediately hit.

9:32------------68.56
9:33------------74.76
9:34------------79.56
9:38------------81.50
9:42------------82.55
9:43------------83.30---------3141.56

Advancers 71 Decliner 1

9:44------------84.87
9:48------------93.88
9:49------------95.36
9:52------------96.03---------3154.29

9:53------------91.82---------3150.08

The 3150 level is tested and breached.

9:56------------95.76
9:58------------96.16
9:59------------97.88
10:00----------100.54
10:00----------101.29---------3159.55

The PSEi consolidates in a narrow range at around the 3160-3170 levels for the next hour.

10:04----------106.93---------3165.19
10:05----------101.24
10:06----------102.99

PhP 41.078 vs US$ 1.00

10:07----------103.63
10:08----------100.77
10:10-----------99.84---------3158.10
10:16----------103.19
10:17----------106.35
10:21----------109.21--------3167.47
10:23----------107.10
10:26----------106.77
10;28----------108.48
10:29----------112.22--------3170.48 (day's high)
10:31----------106.71

Advancers 103 Decliners 10

10:39----------104.65
10:41----------108.46
10:47----------107.34
10:48----------105.94

Advancers 104 Decliners 14

10:49----------109.78
10:51----------111.51--------3169.77

10:54----------108.96
10:56----------104.87
10:58-----------98.90--------3157.16

Advancers 102 Decliners 14

10:59----------105.58

Profit taking in the final hour of the trading session pares down the day's gains.

11:01----------100.26
11:05-----------99.67
11:09-----------95.86
11:01----------100.82---------3159.08
11:12-----------96.68
11:18-----------95.10
11:19-----------94.89
11:24-----------94.04
11:25-----------92.56
11:26-----------91.61---------3149.87

11:28-----------95.00
11:29-----------92.62
11:30-----------90.56
11:32-----------89.28
11:33-----------88.48

Advancers 90 Decliners 23

11:37-----------87.96
11:38-----------86.93
11:43-----------85.34----------3143.60

11:47-----------87.04
11:50-----------90.73
11:52-----------93.23----------3151.49
11:54-----------89.26
11:58-----------88.10
11:59-----------90.31
12:01-----------89.16----------3147.42 (+2.92%)
Market Close.

Advancers 101
Decliners 24

A strong advance in WallStreet may carry the market towards the next target at the 3196-3239 chart gap opened last January 17-18, 2008.
The PSEi is trying to repeat the recovery it made in the next days after it hit the 2874 low in August 17, 2007.
The local equities market is still prone to bouts of profit taking.

Value turnover: PhP 4.997 bn
Cross transactions: PhP 2.191 bn

The Day's Top Gainers:
AAA: PhP 0.42; +50.00%
BCP: PhP 69.00; +27.78%
BC: PhP 25.00; +23.46%

The Day's Biggest Decliners:
JTH: PhP 3.75; -17.58%
KEP: PhP 1.80; -10.00%
MAB: PhP 0.025; -7.41%