Daily Market Notes November 17, 2009
November 17, 2009 by dragon
PSEi 3,032.09 UP 20.73
value php 3,599,631,910.00
DOW 136.49 +1.33% 10,406.96
NASDAQ 29.97 +1.38% 2,197.85
S&P 500 15.82 +1.45% 1,109.30
No other reason was attributed to wall street's sustained 1.4% rally except for the weaker dollar continued fueling speculation on stocks and commodities.
Asian stocks that opened stronger were falling by noon: Hong Kong, Japan, Korea, Australia probably anticipated correction after the highs and began selling into the rally.
Locally, it was weak at the onset. PX'S Initial attempt to rally at 14.75 quickly fizzled and again dampened sentiments, especially at recent 2nd and 3rd liner leaders like NI ISM CPM.
TELcos led the drop: GLO TEL, followed by PX SM, but a lackluster flat trade gave way to MER's last minute run to 212, contributing 19 psei points on 47m nfb.
Thus the cycle back to blue chips as other index leaders were made up of : MBT (44.5 on 70m nfb) ICT FPH AC URC FLI MWC HLCM RLC MEG.
Top overall gainers were EEI 2.65, MER 212, MPI 2.90, RCB 19, while top losers were ISM .0525, IS .0825, CPM 5.40. PRIM 2.28, ANI 25, NI 6.70,
MPI's follow through gain to 2.90 still netted 51m nfs.
TOTAL FOREIGN BUYING : P 1,053,323,808.00
TOTAL FOREIGN SELLING : P 890,660,632.00
NO. OF ADVANCES: 66
NO. OF DECLINES: 46
NO. OF UNCHANGED: 62
NO. OF TRADED ISSUES: 174
NO. OF TRADES: 12,439
LEGEND:
NFB : Net Foreign Buying
NFS : Net Foreign Selling
PHP : Philippine pesos
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