The Philippine Stock Market - March 09, 2009

The local equities market immediately fell as MERALCO (MER) share prices retreated from last week's strong advance after the cut-off date for proxy votes elapsed. The Philippine Stock Exchange Index (PSEi) broke below the 1900 level.

PSEi previous close - 1920.16 (March 6)

time----------down----------PSEi
9:31---------17.94---------1902.22

MER at PhP 110; down from its close of PhP 126 last Friday.

9:32---------23.79---------1896.37

The PSEi goes under 1900.

9:33---------24.84

MER at PhP 102.00

9:42---------25.93
9:43---------31.18
9:46---------34.10
9:50---------35.16

MER at PhP 96.50 (-23.41%).

10:00-------36.25
10:05-------37.79
10:10-------39.91
10:16-------43.81
10:17-------43.93---------1876.23 (day's low)

MER at PhP 98.00 (-22.22%)
Market Value turnover: PhP 204 mn
MER turnover: PhP 64.7 mn

10:24-------38.25
10:25-------36.96

10:27-------40.30
10:42-------37.21
10:52-------35.10
10:53-------33.90
10:58-------31.70
11:05-------29.75
11:15-------28.13
11:17-------27.53
11:20-------25.84
11:25-------24.20---------1895.96

MER at PhP 92.50 (-26.59%)

11:27-------23.72
11:35-------32.35
11:45-------34.35
11:55-------31.72
11:57-------29.44
12:01-------29.54---------1890.62 (-1.54%)
Market Close.

Value turnover: PhP 1.351 bn
Cross transactions: PhP 212 mn
Block Sale: 140,068,682 shs PX @ 5.05 = PhP 707.346 mn

MER turnover: PhP 144 mn

Advancers 23
Decliners 49
Unchanged 54

Sectoral Indices:
Industrial -4.24%
Financial -1.25%
Services -1.04%
Holdings -0.57%
Property -0.26%
M-O +1.73%

The Day's Top Gainers:
LAND: PhP 1.68; +35.48%
EDC: PhP 2.80; +12.90%
LND: PhP 0.18; +12.50%

The Day's Biggest Decliners:
MER: PhP 94.00; -25.40%
PSE: PhP 130.00; -10.34%
MRC: PhP 0.125; -7.41%

At mid-day:
Asian equities markets were mostly down.
The Philippine Peso was at PhP 48.501 vs US$ 1.00.