Daily Market Notes October 26, 2009
October 26, 2009 by dragon
PSEi 2,941.53 UP 8.54
value php 2,894,512,790.00
DOW 109.13 -1.09% 9,972.18
NASDAQ 10.82 -0.50% 2,154.47
S&P 500 13.31 -1.22% 1,079.60
What was once recovered was again lost and recovered again and now lost again. Such is the predicament of the DJIA as it zigzags along the 10k level. CNN reports that 81% of those that have reported earnings have beaten forecasts of lowered estimates. Now, investors have new cause to worry as expectations will now be raised.
Local stocks managed to eke out a gain by the close albeit on low volume, led primarily be PX and the Lopez stocks sans MER. MER initially ran to 210 before initial profit taking dragged it back to 203 and never recovered from there. It was FPH that rose to 46.5 from 43, thanks to 44m nfb. This eventually affected BPC to rise to 3.65 as well, despite continued 13m nfs mostly from broker deutsche.
Some late buying in BPI worth 87m nfb helps bring it back to unchanged level of 48,
AC, ALI, SM, SMPH are all beginning to u-turn downwards and my not be good for our market in general, compounded with the lackluster volume overall. We may have to pause some or correct more before we hurdle 3000.
Likewise, another weak signal is TEL's inability to return confidently above 2600, and is now drenched at 2575 on 51 nfs.
PX is top gainer to 10 after an intraday high of 10.25 despite 102m nfs. This boosted sentiments in MA/MAB .026/.027 and LC/LCB as well, rekindling speculative thoughts that the Manny P interest may have some development soon. Volume of LC/B was not that much.
Top gainers were PRIM 2.6, ABB 12, MVC .90 (after selling 33% of its stake–tender requires 35% to be sold), ACR .89, SUN .65, RFM .57, SFI .175.
Top losers were CMT .98 (restructuring and change par), AB 46.5, MED .59, BC OPM AR PHES UNI.
TOTAL FOREIGN BUYING : P 812,255,259.13
TOTAL FOREIGN SELLING : P 946,722,667.46
SPECIAL BLOCK SALES:
PHILIPPINE TRUST CO. 1,398,100 @ P50 (P 69,905,000.00)
ROBINSONS LAND CORP. 19,400,000 @ P12 (P 232,800,000.00)
———————
TOTAL (P 302,705,000.00) %MKT 10.46
=====================
NO. OF ADVANCES: 62
NO. OF DECLINES: 45
NO. OF UNCHANGED: 57
NO. OF TRADED ISSUES: 164
NO. OF TRADES: 10,511
LEGEND:
NFB : Net Foreign Buying
NFS : Net Foreign Selling
PHP : Philippine pesos
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