The Philippine Stock Market - October 24, 2008

Dow Jones Industrial Average (DJIA)
Index Value: 8,691.25
Trade Time: Oct 23
Change: Up 172.04 (+2.02%)
Prev Close: 8,519.21
Open: 8,519.77
Day's Range: 8243.55 - 8795.99

It was another roller coaster ride in WallStreet wherein the DJIA moved in a wide range of more than 550 points.
The DJIA was up more than 270 points by mid-morning.
By mid-afternoon; it was then down by more than 270 points.
A big rally going into the last hour had the DJIA end up higher by 2.00%.

The local equities market failed to hold above the key 2000 level and suffered a selldown ahead of the weekend. The Philippine Stock Exchange Index (PSEi) is at its lowest levels in around three years.

PSEi previous close - 1995.92 (October 23)

time-----------change-----------PSEi
9:31----------up 8.47----------2004.39
9:32-------------9.64----------2005.56 (day's high)
9:34-------------3.86----------1999.78

The PSEi falls below the key 2000 index level and sparks a sell-off.

9:35---------up 2.48
9:36------down 0.45

The market moves into negative territory and the decline accelerates.

9:37-----down 1.91
9:40-----------7.90
9:41-----------9.20----------1986.72

9:45-----down 6.87
9:51-----------8.90
9:52----------10.18
9:58----------11.01
10:00---------13.04
10:01---------13.90
10:02---------15.00---------1980.92

10:05----down 17.50
10:06---------19.68
10:07---------22.18
10:10---------25.74---------1970.18

10:12----down 26.31
10:14---------28.32
10:16---------29.58
10:17---------29.88
10:18---------31.19
10:20---------31.43
10:21---------32.26
10:22---------32.70
10:23---------33.02----------1962.90

The market consolidates in the next half-hour.

10:30----down 31.02
10:31---------30.98
10:37---------33.90---------1962.02

10:41----down 30.91
10:51---------31.68
10:53---------34.51
10:59---------36.33---------1959.59

The market reaches its lowest levels since November 2, 2005. It moves in a narrow range in the last hour of the trading session.

11:01----down 37.98---------1957.94
11:03---------40.91
11:12---------39.90
11:18---------38.54
11:21---------39.38
11:23---------38.48
11:25---------39.29
11:28---------40.64
11:29---------42.99
11:35---------44.48--------1951.44

11:37----down 43.60
11:42---------40.98
11:43---------43.38
11:45---------45.31
11:49---------45.34
11:52---------46.54
11:53---------47.37
11:55---------47.67
11:56---------48.55--------1947.37 (day's low)
11:59---------44.57
12:01---------42.42--------1953.49 (-2.13%)
Market Close.

Value turnover: PhP 1.951 bn
Cross transactions: PhP 619 mn
Block Sale: 97,000 shs TEL @ PhP 2400 = PhP 232.8 mn

Advancers 23
Decliners 92
Unchanged 24

Sectoral Indices fell across-the-board.
M-O -6.77%
Holdings -3.00%
Industrial -2.26%
Property -1.94%
Services -1.42%
Financial -1.33%

ONLY Index Gainer:
AEV: PhP 5.40; +1.89%

The Day's Top Gainers:
IRCB: PhP 0.65; +35.42%
DIZ: PhP 1.90; +26.67%
DFNN: PhP 5.40; +25.58%

The Day's Biggest Decliners:
MII: PhP 2.00; -33.33%
PNX: PhP 2.40; -29.41%
WIN: PhP 0.12; -27.27%

At mid-day:
Asian equities markets were down.
The Philippine Peso was at PhP 48.877 vs US$ 1.00.