The day's market - January 28, 2008

Market comments last Friday
BusinessWorld - January 28, 2008


With the drop in WallStreet on Friday, the local equities market underwent a correction after its advances the past three trading day's last week.

PSEi previous close - 3237.41 (January 25, 2008)

time--------------down-----------PSEi
9:31-------------24.67----------3212.74

Advancers 7 Decliners 26

9:32-------------25.07
9:33-------------25.52
9:34-------------26.05
9:34-------------29.10
9:35-------------31.54-----------3205.87

PhP 40.864 vs US$ 1.00

9:38-------------32.85
9:39-------------33.89
9:40-------------36.02-----------3201.39
9:41-------------37.49-----------3199.92

Advancers 9 decliners 35
The 3200 level was broken and the market continues to head lower.

9:42-------------40.13
9:43-------------41.89
9:46-------------48.69
9:48-------------49.03
9:49-------------51.82
9:50-------------52.50
9:51-------------53.98
9:52-------------54.04
9:53-------------55.60---------3181.81

Advancers 16 Decliners 46
PLDT (TEL) trading at PhP 2760 from a previous close of PhP 2800.

9:54-------------58.65
9:55-------------59.61
9:59-------------60.09
10:00------------61.52
10:02------------62.05
10:04------------62.15
10:05------------63.77
10:13------------64.30----------3173.11 (day's low)

Advancers 10 Decliners 59
PhP 40.856 vs US$ 1.00
The chart gap opened last week (January 24-25, 2008) at the 3170 level was almost closed and served as a support.

10:21------------62.65
10:23------------61.34
10:25------------59.71
10:34------------57.22-----------3180.19

The PSEi goes above the 3180 level.

10:35------------56.07
10:36------------55.40
10:38------------52.37------------3185.04

PhP 40.884 vs US$ 1.00

10:43------------54.14
10:47------------54.93
10:49------------55.73
10:57------------57.64------------3179.77

The market tests the 3180 level again and manages to hold above it. It limits its losses in the final hour of the trading day.

10:58------------53.92
11:01------------51.24
11:02------------50.97
11:04------------48.84

11:05------------52.98
11:15------------53.61------------3183.80

PhP 40.887 vs US$ 1.00

11:22------------52.74
11:25------------51.56
11:26------------50.51
11:28------------46.72
11:31------------45.58
11:35------------43.16
11:37------------44.28
11:42------------44.95

PhP 40.887 vs US$ 1.00

11:44------------38.65-----------3198.76

The 3200 level is tested.

11:45------------39.25
11:48------------43.67
11:52------------44.25-----------3193.16
11:56------------42.38
11:57------------41.12
11:58------------43.67
11:59------------33.45
12:01------------33.85-----------3203.56 (-1.05%)
Market Close.

Advancers 20
Decliners 77

Value turnover: PhP 2.390 bn
Cross transactions: PhP 1.110 bn

Sectoral Indices retreated across-the-board.
Holdings -2.08%
Industrial -1.16%
Financial -0.94%
Services -0.91%
M-O -0.88%
Property -0.37%

The Day's Top Gainers:
VITA: PhP 0.35; +25.00%
ETEL: PhP 330.00; +10.00%
BCP: phP 96.50; +9.66%

The Day's Biggest Decliners:
PNC: PhP 3.90; -25.00%
JTH: PhP 2.70; -22.86%
ABA: PhP 0.0085; -10.53%