Daily Market Notes October 22 , 2009
October 22, 2009 by dragon
PSEi 2,888.72 DOWN 31.18
value php 3,790,314,854.00
DOW 92.12 -0.92% 9,949.36
NASDAQ 12.74 -0.59% 2,150.73
S&P 500 9.66 -0.89% 1,081.40
Wall street via the DJIA initially rallied 40 as investors welcomed better-than-expected results from Wells Fargo, U.S. Bancorp and Morgan Stanley then drops around 140 points at the last hour, to close 90 points lower, sending their index below 10,000 again.
This is the litmus test of nerves as bulls and bears duke it out to find out once and for all if the rally is real.
Local equities faltered again on big brother's weakness. That erap declared his candidacy officially probably did not help sentiments. That a new typhoon is coming surely added worries to an already deficit battered country.
Market breaks down from 2900 again, but foreign buying seems to remain strong.
Banking tally turned largely negative to foreign selling side: BDO 39M, MBT 70M, PNB 9M, SECB 8M, with only BPI remaining with dwindling 15m nfb.
The power sector had EDC FPH steady with nfb of 22m and 16m respectively. EDC adjusts its price today after the 25% stock dividend.
AC AGI BPC SMPH CPM each have NFS of about 20m php.
Sole awardee for value turnover was TEL's 999m pesos traded, of which were 258m nfb.
By closing, only 4 index stocks gained: PX DMC (to be included in index), LC LCB
MER was acting like a second liner and drops to 201 once again.
Best overall gainers include: PRIM (probably mistaking this for the primedia company involved in the ABC 5 sale to pldt), AB, RLT (exit from rehab soon, as stated yesterday), IRCB MHC UW GSMI ZHI IRC.
Overall top losers were MRAY MRC APM MER MED JTH AR LR PLTL.
TOTAL FOREIGN BUYING : P 1,809,629,073.20
TOTAL FOREIGN SELLING : P 1,705,582,630.60
SPECIAL BLOCK SALES:
TEL 55,000 @ P2,568.3018 141,256,599.00
———————
TOTAL (P141,256,599.00) %MKT 3.73
=====================
NO. OF ADVANCES: 42
NO. OF DECLINES: 55
NO. OF UNCHANGED: 62
NO. OF TRADED ISSUES: 159
NO. OF TRADES: 8,453
LEGEND:
NFB : Net Foreign Buying
NFS : Net Foreign Selling
PHP : Philippine pesos
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