The Philippine Stock Market - October 15, 2008

Dow Jones Industrial Average (DJIA) Summary
Index Value: 9,310.99
Trade Time: Oct 14
Change: Down 76.62 (-0.82%)
Prev Close: 9,387.61
Open: 9,388.97
Day's Range: 9085.43 - 9794.37

The DJIA moved within a range of more than 700 points.
It opened strong and was up early on by more than 400 points.
It then pulled back and traded sideways in mid-session.
A sell-off in the early afternoon session had it losing more than 300 points going into the last hour.
A late rally had the DJIA limit its losses.

The volatility and wild swings in WallStreet still leaves investors with a whole lot of uncertainty. The Philippine Stock Exchange Index (PSEi) traded in a narrow range and followed the correction in the DJIA from the previous day's strong advances in the equities markets.

PSEi previous close - 2273.65 (Oct 14)

time---------down------------PSEi
9:31--------10.15----------2263.50
9:33--------12.83
9:34--------19.92
9:35--------23.89
9:36--------25.78
9:40--------27.79
9:41--------29.66
9:45--------30.17
9:46--------32.81
9:47--------33.76
9:50--------38.07
9:53--------39.45
9:59--------39.49----------2234.16 (day's low)

After the declines in the first half-hour of trading, the PSEi moves sideways for the rest of the trading session.

10:05-------34.76
10:10-------33.03
10:12-------35.04
10:14-------33.74
10:16-------32.60
10:20-------32.23
10:23-------31.00
10:30-------30.41
10:32-------29.08-----------2244.57

10:39-------31.28
10:45-------30.04
10:50-------30.04
10:51-------29.85
10:56-------28.90
11:00-------27.09
11:03-------26.94
11:04-------26.71-----------2246.95

11:08-------28.11
11:14-------29.73
11:15-------30.30

11:20-------28.24
11:21-------26.48-----------2247.17

11:26-------31.75
11:32-------34.15
11:35-------35.71-----------2237.94

11:46-------33.21
11:49-------35.09
11:51-------35.57
11:53-------33.24
11:56-------34.00
12:01-------35.24-----------2238.41 (-1.55%)
Market Close.

Value turnover: PhP 2.372 bn
Cross transactons: PhP 783 mn

Advancers 20
Decliners 64
Unchanged 45

Chart Gaps:
2161 - 2254 left open Oct 13 - 14
----------Target Support: 2161
2420 - 2347 left open Oct 7 - 8
----------Target Resistance: 2347


Sectoral Indices:
M-O -3.99%
Property -1.95%
Industrial -1.94%
Services -1.88%
Holdings -1.53%
Financial +0.03%

The Day's Top Gainers:
CDC: PhP 1.50; +20.97%
ABA: PhP 0.0060; +9.09%
SHNG: PhP 1.26; +8.62%

The Day's Biggest Decliners:
RLT: PhP 0.20; -31.03%
OV: PhP 0.016; -20.00%
ORE: PhP 0.70; -17.65%

At mid-day:
Asian equities markets were down.
The Philippine Peso was at PhP 47.457 vs US$ 1.00.