The Philippine Stock Market - September 26, 2008

Dow Jones Industrial Average(DJIA) Summary
Index Value: 11,022.06
Trade Time: Sept 25
Change: Up 196.89 (+1.82%)
Prev Close: 10,825.17
Open: 10,827.17
Day's Range: 10,827.01 - 11,129.19

In another sudden reversal from the past day's; WallStreet mounted a huge rally to hurdle the 11000 level once again.

The local equities market continued to ride on its own advancing momentum. The big gains in the DJIA boosted investor confidence. The Philippine Stock Exchange Index (PSEi) tests the 2600 level.

PSEi previous close - 2566.37

time--------------up--------------PSEi
9:31------------5.75-------------2572.12

The market advances steeply in the next few minutes.

9:57-----------48.90
10:03----------51.82-------------2618.19 (day's high)

After the initial buying spree; a correction sets in.

10:06----------45.86
10:14----------36.75
10:15----------33.16-------------2599.53

The PSEi drops below the 2600 level and consolidates for the rest of the trading session.

10:28----------23.90-------------2590.27
10:39----------22.02
10:52----------19.47-------------2585.84
11:01----------24.77
11:16----------30.61-------------2596.98
11:31----------24.11
11:48----------30.01
11:54----------35.39
11:56----------39.40-------------2605.77
12:01----------30.89-------------2597.23 (+1.20%)
Market Close.

Value turnover: PhP 2.852 bn
Cross transactions: PhP 866 mn
Bloc Sales: 15000 shs TEL @ 2650 = PhP 39.75 mn

The present resistance level is at 2630; the Sept 15 high and yesterday's 30 day moving average (m.a.).

Advancers 48
Decliners 40
Unchanged 50

Sectoral Indices.
Industrial +3.49%
M-O +2.07%
Services +1.37%
Holdings +0.46%
Financial -0.22%
Property -0.93%

The Day's Top Gainers:
AR: PhP 0.0060; +9.09%
MA: PhP 0.012; +9.09%
MAB: PhP 0.012; +9.09%
EDC: PhP 4.20; +9.09%

The Day's Biggest Decliners:
VUL: PhP 0.72; -11.11%
ABAB: PhP 0.0080; -11.11%
VITA: PhP 0.28; -9.68%
DFNN: PhP 6.80; -9.33%

At mid-day:
Asian equities markets were mostly down.
The Philippine Peso was at PhP 46.567 vs US$ 1.00.