The day's market - February 04, 2008

With the Dow Jones Industrial Average (DJIA) firming up above the 12,500 level, the Philippine Stock Exchange Index (PSEi) hurdled the 3300 level and consolidated above it to try and build a support base.

PSEi previous close - 3294.08 (February 01, 2008)

time------------up------------PSEi
9:31----------10.67----------3304.75

The local equities market immediately goes above the 3300 level.
Advancers 20 Decliner 0

9:32----------17.68
9:38----------17.78
9:39----------18.47
9:41----------21.12
9:43----------22.00
9:44----------31.90-----------3325.98

PhP 40.476 vs US$ 1.00

9:48----------28.39
9:50----------26.19
9:54----------25.65
9:58----------24.57
10:04---------24.16
10:06---------23.36------------3317.44

Advancers 51 Decliners 13

10:10---------28.74
10:13---------24.60
10:27---------25.30
10:21---------24.59
10:28---------26.45
10:33---------24.22
10:42---------19.87

Advancers 62 Decliners 19
PhP 40.498 vs US$ 1.00

10:45----------18.84-----------3312.92
10:46----------20.39
10:48----------22.28
10:50----------22.54
10:56----------25.24

10:58----------23.69
11:00----------26.36
11:01----------27.79
11:02----------28.16
11:11----------28.01

Asian equities markets are up at this point.
PhP 40.509 vs US$ 1.00
The PSEi continues to move in a tight range.

11:15----------27.05
11:20----------23.44
11:26----------25.77
11:30----------22.88
11:36----------26.81
11:37----------29.51

PhP 40.512 vs US$ 1.00

11:43----------26.84
11:48----------29.44
11:50----------29.61
11:52----------26.81
11:53----------21.08-----------3315.16
11:55----------23.67
11:56----------28.63
11:58----------32.35
11:59----------26.36
12:01----------29.17-----------3323.25 (+0.89%)
Market Close.

Advancers 72
Decliners 25

The immediate resistance is at the 3350-3339 chart gap opened last January 16-17, 2008. The next target is the 10-day moving average which is at the 3267 level today.
After the 3300 level, the immediate support is at the 3271-3285 chart gap left open on January 31-February 01, 2008.
Barring any more extreme volatility in WallStreet; the local equities market is trying to build a base for a run-up for the coming Chinese New year.


Value turnover: Php 3.017 bn
Cross transactions: PhP 1.095 bn

Sectoral Indices:
Financial +2.07%
M-O +1.96%
Industrial +1.05%
Services +0.79%
Property +0.67%
Holdings +0.37%

The Day's Top Gainers:
PWR: PhP 0.39; +18.18%
EIBB: PhP 0.38; +15.15%
EEI: phP 2.85; +14.92%

The Day's Biggest Decliners:
KPHB: PhP 1.70; -13.27%
BC: PhP 25.00; -7.41%
PNC: PhP 5.20; -5.45%