Dow Jones Industrial Average (DJIA) Summary
Index Value: 11,378.02
Trade Time: July 31
Change: Down 205.67 (-1.78%)
Prev Close: 11,583.69
Open: 11,577.99
Day's Range: 11363.69 - 11578.89
The DJIA gave back most of its gains the previous day as it succumbed to a late selldown. It also closed near the day's low. WallStreet still suffers from extreme volatility.
The local equities market also opened lower because of the drop in the US equities market and the momentum from its slide late yesterday. It however found a support level at the 2560 level within the first half hour of trading and limited its decline. The Philippine Stock Exchange Index (PSEi) then slowly got back its losses and by the final hour of trading; it was already in positive territory. It ended near the day's high.
PSEi previous close - 2577.10 (July 31)
open - 2568.75
low - 2560.82 (-16.28)
high - 2586.55 (+9.45)
close - 2584.21 (+7.11 or +0.27%)
Value turnover: PhP 1.694 bn
Cross transactions: PhP 494 mn
Advancers 57
Decliners 35
Unchanged 51
The local equities market has shown its resiliency the past week as it muted its declines even if the DJIA suffered losses of more than 200 points. We hope that it has already decoupled itself from the volatility in WallStreet and that it would try to build a strong base of its own at the 2500-2600 level.
Sectoral Indices.
Property +1.53%
Financial +0.70%
M-O +0.68%
Industrial +0.26%
Holdings -0.41%
Services -0.32%
The Day's Top Gainers:
BLFI: PhP 1.98; +48.48%
NI: PhP 11.00; +17.02%
CEU: PhP 7.00; +16.67%
The Day's Biggest Decliners:
OMW2: PhP 0.0046; -16.36%
ETON: PhP 2.02; -8.18%
AR: PhP 0.0075; -6.25%
At mid-day:
Asian markets were down.
The Philippine Peso was at PhP 44.208 vs US$ 1.00.
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