The day's market - February 06, 2008

Comments on yesterday's market
The Philippine Star - February 06, 2008

PLDT (TEL) ADRS were down by $1.83 in WallStreet. It closed at $73.17 and converting at PhP 40.50-PhP 40.80 against the $US; it comes to around PhP 2963-2985.
Gold was down by $16.10 to close at $888.90-889.40.

The huge drop in WallStreet overnight knocks down the local equities market from upon the opening bell.

PSEi previous close - 3283.56 (February 05, 2008)

time-------------up------------PSEi
9:31------------59.77---------3223.79
Advancer 1 Decliners 56

9:32------------62.28
9:33------------64.60---------3218.96
9:34------------64.31
9:37------------62.77

PhP 40.726 vs US$ 1.00

9:40------------61.14
9:43------------59.46----------3224.10
9:45------------63.46
9:47------------65.62
9:49------------66.63
9:52------------67.39----------3216.17

TEL has not yet traded so far. Buying is at PhP 2900 and Selling at PhP 2945. From a previous close of PhP 3000; any trade in PLDT will bring the market sharply lower.

9:57------------64.83
10:06-----------92.83----------3190.73 (day's low)

TEL opens with a transaction at PhP 2905. The 3200 support is tested.

10:07-----------80.99----------3202.57

TEL next trades at PhP 2945. The support at 3200 then holds for the rest of the trading session.

10:09-----------79.95
10:11-----------78.96
10:12-----------77.18
10:13-----------76.59

Advancers 4 Decliners 87

10:16-----------70.43
10:20-----------68.07
10:27-----------66.68
10:35-----------65.18
10:38-----------63.34----------3220.22

The 3220 level is tested and hurdled. The PSEi consolidates above it until the market closes.
PhP 40.743 vs US$ 1.00. Asian equities markets were also down.

10:42-----------62.24
10:43-----------60.40
10:52-----------60.09
10:55-----------59.01
10:57-----------57.25
11:03-----------57.22----------3226.34
11:04-----------61.36
11:09-----------60.27

PhP 40.716 vs US$ 1.00

11:11-----------57.92
11:14-----------56.25

11:21-----------58.48
11:24-----------56.76
11:27-----------54.05
11:28-----------53.65
11:31-----------54.25
11:33-----------56.40
11:34-----------54.97
11:37-----------53.84
11:39-----------51.83
11:41-----------53.38
11:42-----------54.40
11:44-----------52.77
11:45-----------51.34
11:47-----------49.58
11:48-----------48.87-----------3234.69
11:51-----------54.09
11:52-----------52.60
11:55-----------53.81
11:57-----------54.87
11:59-----------49.15
12:01-----------54.72-----------3228.84 (-1.67%)
Market Close.

Advancers 26
Decliners 75

Value turnover: PhP 2.644 bn
Cross transactions: PhP 840 mn

Sectoral Indices.
Property -2.26%
Industrial -1.94%
M-O -1.59%
Services -1.46%
Holdings -0.97%
Financial -0.73%

The Day's Top Gainers:
TUNA: PhP 1.86; +9.41%
MRC: PhP 0.53; +8.16%
EEI: PhP 3.25; +6.56%

The Day's Biggest Decliners:
BKD: PhP 1.14; -17.39%
MVC: PhP 0.61; -12.86%
SPC: PhP 2.16; -10.00%