The Philippine Stock Market - November 03, 2008

The local equities market continued its recovery. The Philippine Stock Exchange Index (PSEi) closed above the key 2000 index level.

PSEi previous close - 1951.09 (October 31)

time--------up---------PSEi
9:31-------14.18------1965.27
9:32-------15.56
9:33-------19.19
9:36-------20.13------1971.22

After opening higher, the market becomes tentative.

9:39-------17.91
9:41-------16.04
9:42-------15.35
9:47-------12.96------1964.05 (day's low)

9:49-------17.60
9:54-------19.94
9:55-------22.60

Another round of buying boosts the market and investor confidence.

9:56-------23.16
9:57-------23.58
10:00------24.73
10:01------27.89
10:04------28.78------1979.87

10:06------29.96
10:07------30.26
10:09------31.91
10:10------32.77
10:12------33.99
10:13------34.19
10:14------34.92
10:17------35.47
10:18------37.15
10:19------37.34
10:20------38.02------1989.11

10:21------39.01
10:24------40.33
10:28------42.65
10:29------45.27
10:31------46.34
10:32------49.09------2000.18

The 2000 level is breached. The advance continues.

10:33------49.48
10:35------51.07
10:36------51.76
10:37------52.89
10:38------55.09
10:39------56.20
10:45------57.48
10:49------60.19------2011.28

10:50------61.24
10:52------63.48
10:55------66.15------2017.28

The market consolidates in the next half-hour.

11:00------62.05
11:01------60.65
11:03------60.13
11:10------59.64
11:15------60.13
11:17------61.59
11:22------62.70
11:23------64.43
11:28------66.11
11:30------66.58-------2017.67

The market moves even higher in the final 30 minutes of the trading session.

11:32------67.71
11:33------69.35
11:34------70.43-------2021.52
11:35------70.77
11:36------71.62
11:39------72.04-------2023.13

11:42------70.95
11:43------74.44-------2025.00

11:45------72.39
11:47------76.99
11:52------77.19
11:54------80.31-------2031.40 (day's high)

11:56------78.78
11:58------77.13
12:01------74.49-------2025.58 (+3.82%)
Market Close.

Value turnover: PhP 2.666 bn
Cross transactions: PhP 791 mn

Advancers 89
Decliners 20
Unchanged 25

The PSEi has now advanced more than 20% (for the past four trading days) after hitting a low of 1684 last Oct. 28. The PSEi needs to build a strong base at the 2000 level.

Sectoral Indices.
Property +5.16%
Industrial +4.61%
Holdings +4.22%
Services +3.10%
Financial +2.52%
M-O +2.00%

The Day's Top Gainers:
OM: PhP 0.010; +33.33%
ORE: PhP 0.65; +30.00%
MJC: PhP 3.00; +25.00%

The Day's Biggest Decliners:
FPHP: PhP 90.00; -9.55%
OPMB: PhP 0.011; -8.33%
OPM: PHP 0.011; -8.33%

At mid-day:
Asian equities markets were up.
The Philippine Peso was at PhP 48.793 vs US$ 1.00.