The Philippine Stock Market - March 17, 2009

Dow Jones Industrial Average (DJIA) Summary
Index Value: 7,216.97
Trade Time: March 16
Change: Down 7.01 (-0.10%)
Prev Close: 7,223.98
Open: 7,225.33
Day's Range: 7,206.85 - 7,392.91

WallStreet ends its winning streak the past days; as it gives back its big gains earlier in the trading day and closed near its low.

The local equities market again fell as PLDT (TEL) continued its decline. The Philippine Stock Exchange Index (PSEi) however was able to limit its losses.

The January 09 unemployment rate is at 7.7%; up from 7.4% in January 08.

PSEi previous close - 1769.67 (March 16)

time----------change-----------PSEi
9:31---------up 0.93----------1770.60
9:33------------5.77----------1775.44 (day's low)
9:38------------1.12

The market moves lower and the decline accelerates.

9:39-----down 1.14
9:40----------4.20
9:43----------5.04
9:46----------6.98
9:47----------9.12
9:48---------12.69
9:49---------15.98
9:50---------21.20

TEL at PhP 1840.00 (-2.90%) down from PhP 1895 yesterday.
This accounts for a decline of 15.75 pts in the PSEi.

9:54-----down 21.70
9:55----------22.59
9:56----------23.42
9:57----------24.28-----------1745.39 (day's low)

The declines taper off and the market recovers some of its losses.

10:00---down 19.70
10:05--------15.60
10:24--------15.06
10:28--------11.52

TEL at PhP 1885.00.

10:30---down 11.33
10:33--------10.26
10:43--------10.09
10:46---------9.34
10:53---------8.30
10:56---------7.88
11:07---------3.88------------1765.79

TEL at PhP 1890.00.

11:13----down 5.47
11:21---------7.17
11:22--------11.89
11:26--------13.80
11:31--------14.26

TEL at PhP 1850.00.

11:56---down 14.37
12:01--------10.34------------1759.33 (-0.58%)
Market Close.

Value turnover: PhP 1.571 bn
Cross sales: PhP 572 mn
Block Sales: 92.4 mn shs RCB (9.6% of the bank) @ 15.20 = PhP 1.404 bn
---------------45,000 shs TEL @ PhP 1927.32 = PhP 86.729 mn

TEL touches an intra-day low of PhP 1830, just off its 5-month low of PhP 1810 last Oct. 28, 2008. It however closed a chart gap at the PhP 1850-PhP 1920 levels left open last Oct.28-29.

Advancers 30
Decliners 32
Unchanged 51

Sectoral Indices.
M-O -3.39%
Services -0.93%
Property -0.46%
Financial -0.11%
Industrial +0.03%
Holdings +0.29%

The Day's Top Gainers:
FLI: PhP 0.35; +9.37%
LSC: PhP 1.10; +5.77%
JGS: PhP 2.75; +5.77%

The Day's Biggest Decliners:
OV: PhP 0.01; -9.09%
APC: PhP 0.185; -7.50%
AMC: PhP 3.70; -7.50%

At mid-day:
Asian equities markets were mostly up.
The Philippine Peso was at PhP 48.372 vs US$ 1.00.