Daily Market Notes June 29, 2009
June 29, 2009 by dragon
PSEi 2,468.05 DOWN 9.39
value php 2,270,232,945.00
FLUTTERY will get you nowhere
DOW 34.01 -0.40% 8,438.39
NASDAQ 8.68 +0.47% 1,838.22
S&P 500 1.36 -0.15% 918.9
With lack of fresh leads except for the much ignored better than expected consumer sentiment report in the u.s., the Psei follows fall street in fluttering about then closing slightly lower. Much of asia also almost 1% down by the close.
All 30 stocks (32 if you count the B shares of LCB SMCB) made insignificant 1 or at most 2 fluctuation moves in either direction. Only the extreme index decliner AC that lost 7.50 to 277.50 had a big impact of 5 psei points lost, plus extreme index gainer TEL that gained only 10 pesos but due to its heavy index weighting, contributed 2.8 gained psei points.
In between those two were the boring 1 point or less gained or lost psei points we talked about. Boring.
Top overall gainer with volume was TUNA at 1.50. Top losers with VOLUME were ZHI PAX URC AR CEI. Past heavy speculators for PAX namely Triton Tower First Metro were all selling down on the buyers' bid today.
The Philippine Stock Exchange's disclosure last week on San Miguel Shares' eligibility for conversion to preferred stated that " Stockholders of record as of July 2, 2009 will be entitled to exchange their common shares to preferred shares provided they remain stockholders of record as at the end of the Offer Period. . Ex-date comes 3 working days before record date, which is today. By Ex-date, you could buy SMC/B shares and WILL NOT be entitled to the conversion to preferred. Hence, last day for entitlement would have been last Friday, June 26, 2009. That is why interest in SMC/B died down today and fell back to 63.50.
For the second liners we had Broker Guild buying ATNB high above 4.50 like crazy and selling low at 4 pesos like crazy.
The only big NFB were TEL's 176m php buying, plus accumulation of 113m pesos worth of EDC again.
TOTAL FOREIGN BUYING : P 1,197,289,204.60
TOTAL FOREIGN SELLING : P 929,702,459.60
SPECIAL BLOCK SALES:
PHIL. LONG DIS TEL CO. 86,800 @ P2315 (P 200,942,000.00)
———————
TOTAL (P 200,942,000.00) %MKT 8.85 =====================
NO. OF ADVANCES: 38
NO. OF DECLINES: 48
NO. OF UNCHANGED: 51
NO. OF TRADED ISSUES: 137
NO. OF TRADES: 5,514
LEGEND:NFB : Net Foreign Buying
NFS : Net Foreign Selling
PHP : Philippine pesos
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