The Philippine Stock Market - October 22, 2008

Dow Jones Industrial Average (DJIA) Summary
Index Value: 9,033.66
Trade Time: Oct 21
Change: Down 231.77 (-2.50%)
Prev Close: 9,265.43
Open: 9,262.80
Day's Range: 9,004.27 - 9,284.55

It was another erratic trading day in WallStreet. The DJIA had a steep drop by mid-day which it then wiped out by the mid-afternoon. It still however ended lower (just above the 9000 level); as another sell-off in the final hour ensued.

The local equities market also took its cue from WallStreet as it gave back some of its gains from the previous day. The Philippine Stock Exchange Index (PSEi) limited its losses but ended below the 2100 level.

PSEi previous close - 2116.74 (Oct 21)

PSEi-----------down------------PSEi
9:31-----------6.59----------2110.15
9:32----------29.15----------2087.59

The PSEi breaks below the 2100 level once again.

9:33---------31.34
9:35---------35.90
9:36---------37.65
9:39---------38.11
9:46---------39.26
9:48---------39.62
9:50---------40.76
9:53---------41.76
9:54---------42.64
9:59---------43.90
10:02--------44.04-----------2072.70 (day's low)

The PSEi moves in a very narrow range in the next 45 minutes.

10:19--------41.44
10:21--------40.69
10:32--------40.57
10:33--------39.35
10:39--------40.65
10:41--------39.45
10:45--------41.51

The market tries to regain some of it losses in the next hour.

10:51--------39.65
10:54--------38.67
10:59--------36.96

11:03--------36.96
11:04--------34.91
11:05--------34.57
11:11--------32.24
11:13--------30.16
11:14--------28.26
11:23--------26.98
11:26--------24.92
11:31--------24.19
11:37--------23.75
11:45--------22.87
11:47--------21.57-----------2095.18

The PSEi moves sideways in the final minutes.

11:50--------23.27
11:52--------24.89
11:53--------25.57
11:56--------24.57
11:58--------22.88
11:59--------20.98
12:01--------23.73-----------2093.31 (-1.12%)
Market Close.

Value turnover: PhP 1.988 bn
Cross transactions: PhP 723 mn
Blosk Sale: 87,020,152 shs CRC @ PhP2.22 = PhP 193.597 mn

Advancers 24
Decliners 65
Unchanged 34

Sectoral Indices.
M-O -2.25%
Services -1.76%
Financial -1.26%
Property -1.18%
Holdings -0.44%
Industrial +0.01%

The Day's Top Gainers:
FEU: PhP 720.00; +14.29%
FPH: PhP 14.75; +13.46%
APO: PhP 1.52; +8.57%

The Day's Biggest Decliners:
WPI: PhP 0.32; -17.95%
ORE: PhP 0.50; -16.67%
CDC: PhP 1.26; -16.00%

At mid-day:
Asian equities markets were down.
The Philippine Peso was at PhP 48.594 vs US 1.00