The Philippine Stock Market - March 13, 2009

Dow Jones Industrial Average (DJIA) Summary
Index Value: 7,170.06
Trade Time: Mar 12
Change: Up 239.66 (+3.46%)
Prev Close: 6,930.40
Open: 6,932.39
Day's Range: 6,872.25 - 7,184.71

WallStreet surged more than three and a half percent to break well above the 7000 level.

The local equities market was weaker; as today is the ex-date of the PLDT (TEL) cash dividend of PhP 130.00 (PhP PhP 70 regular cash div and PhP 60 special cash div). The Philippine Stock Exchange Index (PSEi) would have been higher if not for the significant drop in the price of PLDT. The market however, also fell sharply in the last few minutes of trade and closed at its low.

PSEi previous close - 1879.67 (March 12)

time----------down----------PSEi
9:31----------13.31--------1866.36

TEl at PhP 2190 from a previous close of PhP 2270.

9:32----------14.87--------1864.80

TEL at PhP 2180. This accounts for a drop of 25.77 points in the PSEi.

9:35----------11.95
9:47-----------9.61
10:00----------6.75

10:14----------9.35
10:38----------7.68
10:46----------6.62

10:58----------9.36
11:05---------10.45

11:29----------6.43--------1873.24
11:43----------7.90
11:50----------9.72
11:55---------12.31
11:57---------14.29
11:58---------14.60
11:59---------17.83
12:01---------23.57-------1856.10 (-1.25%)
Market Close.

TEL closed at PhP 2145 (-5.51%). This accounted for a decline of 35.79 points in the PSEi.

Value turnover: PhP 2.257 bn
Cross transactions: PhP 974 mn

Advancers 55
Decliners 21
Unchanged 42

Sectoral Indices:
Services -4.10%
Financial +0.42%
Industrial +0.43%
Holdings +0.63%
Property +2.48%
M-O +3.53%

The Day's Top Gainers:
BCB: PhP 10.00; +38.89%
ATS: PhP 1.54; +13.24%
APC: PhP 0.20; +11.11%

The Day's Biggest Decliners:
ARA: PhP 0.18; -30.77%
MUSX: PhP 0.0725; -12.12%
PEP: PhP 0.64; -7.25%

At mid-day:
Asian equites markets were mostly up.
The Philippine Peso was at PhP 48.486 vs US$ 1.00.

This afternoon:
It was disclosed that PLTL (part of the PLDT group) is buying 20% of MER from the Lopez group at PhP 90.00.
Earlier this month, the Beneficial Trust Fund (retirement Fund of PLDT) has accumulated around 10.17% in Meralco by buying in the open market at an average of just above PhP 90.00. In a separate disclosure, MPIC (Metro Pacific which is also part of the PLDT group) has also indicated interest to buy this stake.