The Philippine Stock Market - August 07, 2008

Dow Jones Industrial Average (DJIA) Summary
Index Value: 11,656.07
Trade Time: August 6
Change: Up 40.30 (+0.35%)
Prev Close: 11,615.77
Open: 11,603.64
Day's Range: 11521.32 - 11685.46

WallStreet opened lower and tested the 11500 level as a support. A rally by midsession brought the DJIA higher and it ended with moderate gains.

The local equities market took a breather after yesterday's big surge. The Philippine Stock Exchange Index (PSEi) just traded in a narrow range near the 2700 level and had no clear direction to go today. It however closed near its low.

PSEi previous close - 2697.21 (August 06)

time------------change-------------PSEi
9:31-----------up 4.10------------2701.31
9:32--------------0.15

The market goes in the RED.

9:33--------down 0.31
9:34--------------4.59
9:35--------------5.82
9:36--------------6.48
9:40--------------9.18
9:45-------------10.27
9:51--------------7.28
10:02-------------3.82
10:05-------------1.70
10:06-------------0.48

The PSEi struggles to go back in positive territory

10:10----------up 1.86
10:11-------------4.16
10:17-------down 0.21
10:21----------up 0.06
10:30-------down 2.36
10:34----------up 5.39

The market manages to hold on to its gains for around the next hour.

10:48----------up 9.12
10:49-------------9.25
10:53-------------9.90-----------2701.11(the day's high)
10:56-------------5.44
10:58-------------3.75
11:09-------------7.47
11:19-------------6.33
11:23-------------3.82
11:25-------------0.01
11:26-------down 0.96

The markets dips lower again, and with just around a half hour remaining in the trading session, profit taking (and a mild selldown) sets in specially in the active secondliner stocks.

11:27-------down 1.37
11:29-------------1.72
11:32-------------2.31
11:35-------------3.03
11:38-------------1.60
11:42-------------4.04
11:46-------------5.22
11:50-------------7.62
11:51-------------8.73
11:54------------12.10
11:56------------12.59
11:59------------14.59---------2682.62 (the day's low)
12:01------------12.57---------2684.64 (-0.47%)
Market Close.

Value turnover: PhP 2.846 bn
Cross transactions: PhP 1.007 bn

Advancers 54
Decliners 48
Unchanged 55

Sectoral Indices.
M-O +0.78%
Financial +0.71%
Services -0.02%
Holdings -0.36%
Industrial -0.89%
Property -1.64%

The Day's Top Gainers:
CRC: PhP 7.50; +50.00%
ATRK: PhP 5.30; +35.90%
BPC: PhP 1.54; +14.93%

The Day's Biggest Decliners:
AR: PhP 0.0070; -6.67%
LSC: PhP 1.12; -6.67%
FAF: PhP 0.60; -4.76%

At mid-day:
Asian equities markets were mostly down.
The Philippine Peso was at phP 43.870 vs US$ 1.00.