Daily Market Notes October 28, 2009
October 28, 2009 by dragon
PSEi 2,908.21 DOWN 27.53
value php 3,516,389,715.00
DOW 14.21 +0.14% 9,882.17
NASDAQ 25.76 -1.20% 2,116.09
S&P 500 3.54 -0.33% 1,063.41
a surprise drop in consumer confidence fought with the news of a better-than-expected housing market report and a mixed session in wall street ensued. After a strong start, equities melted on the consumer confidence report, then shot back up, only to settle quite flat.
Local equities attempted to capitalize further on the Lopez stake selling news but one can only expect so much from a news that has been rehashed a lot of times in the past weeks.
Huge NFS particularly from the turnaround of banks: BDO 28M, BPI 27M, MBT 138m, fgen 23m, ac 57m, agi 22m, ali 6m, fli 13m, meg 23m, glo 12m, gmap 21m, px 144m.
Some strong showing in PX at the 10.25 level helped boost up prices for MA/B LC/B once again.
BDO's strong earnings posted was only enough for a .50 rise to 35.50.
Overall, the market was only slightly higher when some mad selling ensued at the last hour which sort of fed into itself, causing the pseindex to trade below 2900 for a while.
Few nfb in the ff stocks: EDC 77M, MWC 22M, SM 61M, TEL 124M,
By closing, gains were limited to the ff index stocks: PX SMPH URC BDO PCOR JFC TEL.
Best overall gainers include ABB FAF AAA VITA JOH AB MRAY WPI, and WEB breaking out of its ascending triangle and bouncing on uptrend line with an initial target of 20.
Performing poorly were OPM PRIM AAI MVC RFM ION SPM UNI ACR
TOTAL FOREIGN BUYING : P 927,534,771.00
TOTAL FOREIGN SELLING : P 1,177,888,187.10
NO. OF ADVANCES: 58
NO. OF DECLINES: 88
NO. OF UNCHANGED: 40
NO. OF TRADED ISSUES: 186
NO. OF TRADES: 11,433
LEGEND:
NFB : Net Foreign Buying
NFS : Net Foreign Selling
PHP : Philippine pesos
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