Daily Market Notes October 15, 2009
October 15, 2009 by dragon
PSEi 2,942.79 UP 12.09
value php 3,234,684,796.20
over 4B php in volume desperately needed to bring us past 3000!
DOW 144.80 +1.47% 10,015.86
NASDAQ 32.34 +1.51% 2,172.23
S&P 500 18.83 +1.75% 1,092.02
Intel beating estimates but giving a rosy outlook, plus JPMorgan smashing estimates help keep the DJIA rally well above 1% for most of their trading day, and keeping their head above the 10k water level by closing. The dollar slid to the lowest level since August 2008 and Treasuries fell. The rally also was boosted by data showing retail sales falling less than economists forecast last month.
Locally, it was the same story AGAIN. An opening gain of 30 points evaporated into a closing whimper of 12 gained points.
Succumbing to very quick profit taking in the losers' side were index stocks: AC (83m nfs) ALI (134m nfs), MWC FPH RLC PCOR. We noted that AC ALI became passe in flavor when the buyers turned wishy washy a few days ago.
MEG still showed signs of strength at 1.72 with 126m nfb. FLI's rally to .98 was decapitated and sank to .94 before closing at .96.
The banking sector remained en vogue with BPI 95M, MBT 33M, SECB 23m still sustaining their NFB.
You know it was a lackluster day when EDC made up for 10% of today's total traded volume. TEL's 20 peso rise to 2610 singlehandledly made up for the wide lead in terms of psei point gain of 5.
Overall gainers still saw Ongpin stocks AB/B MRAY doing minimum board lot trade at 50% limit up which opens the doors for a new ceiling/floor the next day.
Other gainers include ani 25, irc/b .76 , while most of the top losers really did not have much volume to write home to momma about.
TOTAL FOREIGN BUYING : P 1,097,026,266.13
TOTAL FOREIGN SELLING : P 1,144,994,509.70
NO. OF ADVANCES: 71
NO. OF DECLINES: 37
NO. OF UNCHANGED: 65
NO. OF TRADED ISSUES: 173
NO. OF TRADES: 9,919
LEGEND:
NFB : Net Foreign Buying
NFS : Net Foreign Selling
PHP : Philippine pesos
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