The Philippine Stock Market - October 03, 2008

Dow Jones Industrial Average(DJIA) Summary
Index Value: 10,482.85
Trade Time: Oct 2
Change: Down 348.22 (-3.22%)
Prev Close: 10,831.07
Open: 10,825.54
Day's Range: 10439.52 - 10825.54

WallStreet opened lower and steadily declined to close near its low. Data on falling US factory orders and rising unemployment claims added worries on the US economy even as investors and analysts await the approval by Congress of the financial bailout plan.

New York Metal & Oil Report
Gold - down $44.50 to $839/839.50
US Oil - down $4.56 to $93.97

The local equities market was dragged down by the negative sentiment brought about by the more than 3% drop in the DJIA. The Philippine Stock Exchange Index (PSEi) however, limited its drop once again as the Philippine Stock Market continue to show resiliency.


PSEi previous close - 2612.89 (Oct. 2)

time------------down-------------PSEi
9:31-----------13.84------------2599.05

The market falls below the 2600 level immediately.

9:32-----------20.67
9:33-----------29.95
9:34-----------30.34
9:35-----------32.32
9:36-----------35.18
9:38-----------37.89

The PSEi continues its slow decline.

9:43----------40.79
9:44----------41.34
9:48----------43.35
9:50----------44.92
9:57----------44.92
9:58----------45.71
9:59----------45.90
10:03---------46.82
10:10---------48.11-------------2564.78 (day's low)

The market halts its drop and moves in a narrow range for the rest of the trading session.

10:22---------45.75
10:36---------45.29
10:43---------45.62
10:46---------45.15
10:50---------45.97
10:57---------46.77
11:00---------45.18
11:03---------46.35
11:05---------44.82
11:08---------43.94
11:12---------43.52
11:16---------42.60
11:20---------42.41
11:21---------41.71
11:24---------41.66
11:26---------39.97
11:34---------44.24
11:39---------40.56
11:43---------39.29-------------2573.60
11:52---------41.66
11:56---------46.37-------------2566.52
11:57---------41.90
11:58---------44.32
12:01---------46.68-------------2566.21 (-1.79%)
Market Close.

Value turnover: PhP 2.290 bn
Cross transactions: PhP 1.121 bn
Block Sales: 28,000,000 shs AGI @ 3.90 = PhP 109.20 mn

Advancers 16
Decliners 58
Unchanged 51

Sectoral Indices.
M-O -3.00%
Holdings -2.81%
Industrial -2.14%
Property -1.89%
Financial -1.43%
Services -1.09%

The Day's Top Gainers:
APR: PhP 2.95; +18.00%
LND: PhP 0.35; +12.90%
REG: PhP 1.50; +7.14%

The Day's Biggest Decliners:
UW: PhP 0.095; -17.39%
AGI: PhP 3.50; -10.26%
MA: PhP 0.011; -9.09%

At mid-day:
Asian equities markets were down.
The Philippine Peso was at PhP 47.176 vs US$ 1.00.