The Philippine Stock Market - July 04, 2008

Dow Jones Industrial Average (DJIA) Summary
Index Value: 11,288.54
Trade Time: July 3
Change: Up 73.03 (+0.65%)
Prev Close: 11,215.51
Open: 11,216.00
Day's Range: 11157.21 - 11337.48

The DJIA moved within a wide 180 point trading range. It initially tested the 11150 level but finished with modest gains near the 11300 level.

The local equities market also advanced after a listless start. The Philippine Stock Exchange Index (PSEi)was flat for the first 20 minutes but gradually advanced to edge higher today.

PSEi previous close - 2339.84 (July 03)

time-------------change-----------PSEi
9:31-----------up 4.67-----------2344.51
9:33--------down 0.72
9:37--------------1.91-----------2377.93 (day's low)
9:40----------up 1.76
9:44--------------5.06
9:50--------------2.01

The market holds and investors gradually gain confidence.

9:53-----------up 7.08
9:55-------------14.50
9:59-------------16.88
10:17------------12.04
10:39------------18.49
10:47------------23.08
10:48------------24.83------------2364.67

The PSEi touches the lower end of the chart gap opened yesterday.

10:55---------up 23.87
11:02------------25.02------------2364.86

The PSEi tries to cover the gap.

11:05---------up 26.60
11:07------------29.04
11:08------------29.98
11:09------------30.57
11:10-------------31.17
11:11-------------31.57-------------2371.41 (the day's high)

The gap covering rally did not gain enough momentum. The market consolidated for the rest of the trading session.

11:15---------up 29.85
11:27------------25.21
11:37------------29.81
11:42------------25.03
11:45------------27.58
11:50------------24.51
11:56------------27.10
11:57------------24.06
11:58------------26.74
11:59------------29.99
12:01------------29.37---------------2369.21 (+1.26%)
Market Close.

Value turnover: PhP 1.897 bn
Cross transactions: PhP 792 mn
Block Sale: 18,847,000 shares of LR @ @.to = PhP 50.88 mn

Advancers 60
Decliners 31
Unchanged 48

Sectoral Indices:
Property +4.40%
Holdings +1.70%
Industrial +0.97%
Financial +0.52%
Services +0.49%
M-O -2.33%

The Day's Top Gainers:
ZHI: PhP 0.24; +33.33%
PA: PhP 0.060; +14.29%
VITA: PhP 0.29; +11.54%

The Day's Biggest Decliners:
ICTV: PhP 1.50; -26.47%
IMP: PhP 14.00; -17.65%
UNI: PhP 0.10; -16.67%

At mid-day:
Asian markets were mixed.
The Philippine Peso was at PhP 45.569 vs US$ 1.00.