The Philippine Stock Market - July 09, 2008

Dow Jones Industrial Average(DJIA)Summary
Index Value: 11,384.21
Trade Time: July 8
Change: Up 152.25 (+1.36%)
Prev Close: 11,231.96
Open: 11,225.03
Day's Range: 11174.88 - 11391.13

The DJIA again moved within a wide range of more than 200 points. After a listless start, WallStreet had a strong rally in the last couple of hours of trading to close near its day's high.
World Crude Prices fell the most in three monts (around $5) to touch the $136 a barrel level.

The local equities market got a boost from the combination of the advance in WallStreet and the drop in Oil prices. The Philippine Stock Exchange Index (PSEi) again opened strong as it challenged the 2500 level after just a half hour of trading. It then consolidated the rest of the session and kept most of its gains.

PSEi previous close - 2450.55 (July 8)

time------------up--------------PSEi
9:30-----------5.10-------------2455.65
9:31----------24.41
9:32----------29.42
9:33----------31.09
9:34----------34.25
9:35----------35.02
9:40----------40.68
9:44----------41.28
9:54----------46.80
9:58----------51.23--------------2501.78

The 2500 level is tested and the market tries to go above it.

9:59----------52.98
10:00---------54.80
10:01---------56.05
10:04---------56.58---------------2507.13 (day's high)
10:07---------53.99
10:11---------50.93
10:14---------48.05---------------2498.60

The PSEi goes back below the 2500 level and the market pulls back a bit then consolidates just above the 2480 level for the rest of the trading day.

10:17---------46.86
10:18---------45.27
10:19---------41.46
10:24---------39.37
10:30---------38.23
10:33---------37.00
10:35---------36.14
10:38---------34.47
10:39---------33.88
10:42---------33.00
10:56---------32.60
11:02---------31.46---------------2482.01
11:08---------33.82
11:19---------34.16
11:23---------34.49
11:35---------32.23
11:39---------35.50
11:54---------30.40---------------2480.95
12:01---------30.98---------------2481.53 (+1.27%)
Market Close.

Value turnover: PhP 1.918 bn
Cross transactions: PhP 753 mn

Advancers 73
Decliners 39
Unchanged 37

Sectoral Indices.
Financial +1.97%
Property +1.92%
Services +1.60%
Holdings +1.44%
M-O +0.37%
Industrial +0.23%

The Day's Top Gainers:
ABA: PhP 0.0095; +35.71%
ABAB: PhP 0.0095; +35.71%
PA: PhP 0.0725; +31.82%
GEO: PhP 0.69; +11.29%

The Day's Biggest Decliners:
ANS: PhP 2.65; -10.17%
FEU: PhP 915.00; -8.50%
HP: PhP 2.30; -8.00%
MAB: PhP 0.012; -7.69%

At mid-day:
Asian markets were up.
The Philippine Peso was at PhP 45.688 vs US$ 1.00.