The Philippine Stock Market - September 22, 2008

The local equities market continues its rally. The Philippine Stock Exchange Index (PSEi) opened steeply higher but slowly gave up some ot its gains.

PSEi previous close - 2462.79 (Sept 19)

time----------up----------PSEi
9:31---------83.50------2546.29

PLDT (TEL) opens at PhP 2710 (day's high) from a previous close of PhP 2550.

9:32--------89.98
9:34--------91.70

9:39--------86.90
9:41--------90.23
9:44--------91.18
9:46--------94.47
10:02-------95.03
10:10-------97.03-------2560.09 (day's high)

The market steadily declines from its peak in the next hour.

10:19-------92.89
10:24-------90.92
10:25-------89.01
10:34-------83.04
10:39-------78.70
10:50-------71.61

10:52-------75.89
10:55-------71.10
11:00-------68.82
11:04-------67.45
11:05-------66.59
11:10-------61.73
11:16-------57.50

PLDT (TEL) trades at PhP 2615 (day's low)
The PSEi moves in a narrow range for the rest of the trading session.

11:23-------57.41-----------2520.20

11:26-------60.39
11:28-------63.93
11:29-------66.63

1133--------61.10
11:41-------60.60
11:44-------58.25

11:48-------61.23
11:53-------64.36
11:54-------66.04
11:55-------69.25-----------2532.04

11:57-------66.41
11:59-------60.65
12:01-------57.34----------2520.13 (+2.33%)
Market Close.

Value turnover: PhP 3.077 bn
Cross transactions: PhP 1.064 bn
Block Sales: 300,000 shs SM @ PhP 252.50 = PhP 75.75
---------------50,700 shs TEL @ 2574.25 = PhP 130.51 mn

Advancers 73
Decliners 21
Unchanged 44

Today's steep opening leaves another chart gap at the 2472 - 2520 levels. Last Friday , another gap was also opened at the 2401-2426 levels.

Sectoral Indices.
M-O +2.62%
Property +2.43%
Industrial +2.36%
Holdings +1.86%
Financials +1.53%
M-O -0.13%

The Day's Top Gainers:
ETEL: PhP 375.00; +25.00%
OMW2: PhP 0.0065; +18.18%
VUL: PhP 0.81; +14.08%

The Day's Biggest Decliners:
UW: PhP 0.11; -15.38%
MRC: PhP 0.20; -13.04%
ZHI: PhP 0.21; -12.50%

At mid-day:
Asian equities markets were up.
The Philippine Peso was at PhP 46.229 vs US$ 1.00.