The Philippine Stock Market - October 13, 2008

The local equities market opened higher as it rebounded from last Friday's steep drops. Bargain hunting was observed but most investors remained jittery as the market pared back its gains towards the close. The Philippine Stock Exchange Index (PSEi)ended with moderate gains above the 2100 level.

PSEi previous close - 2097.80 (October 10)

time-----------up-------------PSEi
9:31----------38.39---------2136.19
9:32----------44.37
9:34----------45.36

9:34----------44.30
9:38----------55.02
9:39----------56.61
9:41----------57.81
9:42----------59.98
9:43----------60.18
9:44----------61.77
9:46----------64.03---------2161.83 (day's high)

After an initial spurt; the market starts to shed off its gains.

9:48-----------59.48--------2157.28
9:59-----------57.61
10:07----------55.37
10:08----------54.95
10:14----------52.42
10:17----------51.54
10:21----------50.68
10:23----------49.70
10:26----------47.46--------2145.26

10:27----------54.14--------2151.94
10:31----------51.89
10:43----------51.48
10:56----------50.04
10:57----------49.36
11:00----------46.99
11:04----------46.81
11:05----------44.69--------2142.49

11:06----------48.19--------2145.99
11:11----------44.94
11:13----------43.62
11:15----------42.64
11:17----------39.78
11:22----------39.12
11:24----------38.72
11:26----------37.94
11:27----------36.06
11:28----------35.45
11:29----------32.92
11:31----------31.43
11:34----------30.76
11:42----------29.31
11:43----------27.57
11:44----------26.94--------2124.74

11:45----------28.30
11:47----------25.91
11:49----------24.43
11:52----------22.79
11:53----------21.68--------2119.48

11:55----------22.36
11:56----------23.52
11:57----------24.12
11:59----------20.17--------2117.97 (day's low)
12:01----------20.95--------2118.75 (+1.00%)
Market Close.

Value turnover: PhP 2.285 bn
Cross transactions: PhP 972 mn
Block Sale: 70000 shs TEL @ PhP 2192.95 = PhP 153.506 mn

Advancers 65
Decliners 40
Unchanged 32

Sectoral Indices rebounded across-the-board.
Property +3.22%
Industrial +1.29%
Financial +1.06%
M-O +0.61%
Services +0.22%
Holdings +0.15%

The Day's Top Gainers:
I : PhP 4.90; +36.11%
ORE: PhP 0.85; +30.77%
MPI: PhP 3.35; +24.07%

The Day's Biggest Decliners:
OPMB: PhP 0.016; -15.79%
OPMN: PhP 0.016; -11.11%
APX: PhP 1.70; -10.53%

At mid-day:
Asian equities markets were mixed.
The Philippine Peso was at PhP 47.429 vs US$ 1.00.

Investors are keenly watching WallStreet as it tries to look for directions. At 6 pm, Manila time, the DOW Futures is up more than 360 points (+4.30%).