The Philippine Stock Market - November 19, 2008

Dow Jones Industrial Average (DJIA) Summary
Index Value: 8,424.75
Trade Time: Nov 18
Change: Up 151.17 (+1.83%)
Prev Close: 8,273.58
Open: 8,273.34
Day's Range: 8,105.44 - 8,477.95

Another erratic trading day in WallStreet. This time, the last hour huge swing the DJIA has been experiencing lately, was upwards. The DJIA is testing the support at 8000.

The local equities market took its cue from the advance in WallStreet and went against the downward trend in the other asian stock markets. The Philippine Stock Exchange Index (PSEi) was able to go above the 1900 level.

PSEi previous close - 1873.60 (November 18)

time----------change-----------PSEi
9:31------down 1.32----------1872.28 (day's low)

After the initial drop, the market surges.

9:34-------up 26.40
9:38----------26.04---------1900.00

The market touches the 1900 level.

9:40-------up 29.50
9:41----------32.44
9:42----------33.78
9:49----------37.34
9:50----------41.66
9:53----------42.95--------1916.55 (day's high)
9:54----------37.91

After the initial rise, the market again moves in a narrow range just above the 1900 level for the rest of the trading session.

10:02------up 36.12
10:03---------31.97
10:07---------30.95
10:18---------32.53
10:30---------34.86
10:35---------35.38
10:46---------34.40
10:52---------33.18
10:55---------35.13
11:02---------33.12
11:04---------34.41
11:11---------33.48
11:16---------35.04
11:28---------32.34--------1905.94

At this point:
Value turnover: PhP 640 mn
Cross transactions: PhP 180 mn

PLDT (TEL) accounts form 31.64 pts of the gains so far. It is trading at PhP 2250 from a previous close of PhP 2140.

11:37------up 32.57
11:40---------31.94
11:49---------32.08
11:52---------29.53
11:54---------28.52-------1902.12
11:59---------29.51
12:01---------34.58-------1908.18 (+1.85%)
Market Close.

Value turnover: PhP 1.277 bn
Cross transactions: PhP 434 mn
Block Sales: 1,500,000 shs MWC @ PhP 13.81 = PhP 20.713 mn
--------------- 27,000 shs TEL @ PhP 2212.30 = PhP 59.732 mn
----------------10,000 shs TEL $ PhP 2201.36 = PhP 22.013 mn

Advancers: 31
Decliners: 58
Unchanged: 38

Sectoral Indices:
Services +4.33%
Financial +0.79%
Property +0.47%
Holdings -0.67%
M-O -0.67%
Industrial -0.87%

The Day's Top Gainers:
ABA: PhP 0.60; +20.00%
RCM: PhP 1.18; +18.00%
KEP: PhP 0.95; +11.76%

The Day's Biggest Decliners:
UNI: PhP 0.065; -35.00%
BCB: PhP 6.50; -35.00%
FPJB: PhP 0.80; -33.33%

At mid-day:
Asian equities markets were down.
The Philippine Peso was at PhP 49.976 VS US$ 1.00.