The Philippine Stock Market - July 08, 2008

Dow Jones Industrial Average (DJIA) Summary
Index Value: 11,231.96
Trade Time: July 7
Change: Down 56.58 (-0.50%)
Prev Close: 11,288.54
Open: 11,289.19
Day's Range: 11120.74 - 11399.11

It was a volatile resumption of trade in WallStreet after the Fourth of July break. The DJIA moved wiithin a wide 280 point range. It was higher in the early going and was up more than a hundred points. It even tested the 2400 level. But by mid trade, the market swung the opposite way and it then went to approach near its 52-week low. A mild rally in the final hour limited its losses.

The local equities market rode on its momentum to go against the downtrend in the asian markets. The Philippine Stock Exchange Index (PSEi) opened strong and was able to hold on to most of its gains for the rest of the session.

PSEi previous close - 2414.66 (July 7)

time------------up--------------PSEi
9:31-----------26.24-----------2440.90
9:32-----------32.87
9:34-----------34.91-----------2449.57

The 2450 level is tested.

9:36-----------38.54
9:37-----------39.73
9:38-----------40.36
9:39-----------41.11
9:41-----------42.83
9:43-----------43.32
9:51-----------45.40
9:52-----------46.62
9:53-----------47.26
9:57-----------48.65
10:01----------51.54
10:06----------54.59-------------2469.25 (day's high)

After the initial surge, the market consolidates its gains for the rest of the trading day.

10:21----------49.12
10:42----------48.58
10:46----------47.95
10:54----------51.09
11:00----------47.44
11:06----------43.96
11:29----------42.35
11:33----------37.78
11:45----------41.36
11:53----------36.80
11:58----------33.99
11:59----------32.84
12:01----------35.89-----------2450.55 (+1.49%)
Market Close.

Value turnover: PhP 2.904 bn
Cross transactions: PhP 1.568 bn

Advancers 49
Decliners 38
Unchanged 47

Sectoral Indices.
Services +1.97%
Holdings +1.28%
Industrial +0.87%
M-O +0.60%
Property +0.53%
Financial +0.37%

The Day's Top Gainers:
ICTV: PhP 1.82; +21.33%
EVER: PhP 0.10; +11.11%
AR: PhP 0.0055; +10.00%

KPM: PhP 2.00; -13.79%
PA: PhP 0.055; -12.00%
ABSP: PhP 16.75; -10.67%

At mid-day:
Asian markets were mostly down.
The Philippine Peso was at PhP 45.748 vs $US 1.00.