Daily Market Notes July 15, 2009
July 15, 2009 by dragon
DOW 27.81 +0.33% 8,359.49
NASDAQ 6.52 +0.36% 1,799.73
S&P 500 4.78 +0.53% 905.84
PSEi 2,515.95 UP 23.65
value php 3,874,055,925.00
good!
Wall street was flat to slightly higher. But after hours futures were higher as Intel posted better than expected earnings and optimistic outlook for recovery.
Local equities did the usual early morning rally, tried to correct a little after surpassing 2500, but the strength of Lopez stocks led by FPH and BPC swayed the favor back to the bulls' side.
Market breadth was better, and number of trades increased to 9,700 from the
7k and 5k the past two days. Value turnover likewise improved significantly on the breakout. In other words, today's rally had legs.
Yesterday's leaders LC/B MA/B tried to rally at the open but was quickly sold down to close near unchanged levels.
Deutsche was busy with the Lopez shares. Buying BPC, Buying FPH, and selling FGEN.
The Banking sector contributed largely to market's overall NFS: BDO 50M, BPI 34M, MBT 58M.
Other nfs include: TEL 104M, SMPH 60M, RLC 44M, ALI 50M, SM 63M, AC 154M, MER 125M, FGEN 45M, ??? So what were NFB: ??? : edc 75m, fph 20m, jfc 32m, bpc 20m, glo 35m.
So if you include this largely NFS activity on the big caps, this rally has legs on shaky ground!
By closing, only two index leaders AC MER were down, and 13 were unchanged.
Leading the gains pack were EDC TEL MBT GLO BPI.
Overall best gainers included AGI HLCM CMT CYBR RFM POPI, while LIB BRN figured in top losers. Oil takes this chance of improved optimism to rally back above $60.
TOTAL FOREIGN BUYING : P 1,548,040,245.00
TOTAL FOREIGN SELLING : P 2,090,921,666.45
NO. OF ADVANCES: 69
NO. OF DECLINES: 20
NO. OF UNCHANGED: 61
NO. OF TRADED ISSUES: 150
NO. OF TRADES: 9,771
LEGEND:
NFB : Net Foreign Buying
NFS : Net Foreign Selling
PHP : Philippine pesos
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