Daily Market Notes November 20, 2009
November 20, 2009 by dragon
PSEi 3,068.73 DOWN 14.57
value php 3,445,964,990.00
DOW 93.87 -0.90% 10,332.44
NASDAQ 36.32 -1.66% 2,156.82
S&P 500 14.90 -1.34% 1,094.90
Wall street drops for the second day, Europe and Asia drop around 4 days on the average.
At the onset of local trading, stocks were not bad in their drop, even trading flat for a sizeable duration, before some panic safety selling by the close brought us down over 30, only to recover a little by the close.
Leader again was PX 's 1 peso gain to 17.50 from an 18 peso day high, worth 8 psei points on 26m nfb. MER likewise staged its pop and pare, rising to 232 before losing ground to 226 and closing 228, still higher on 24m nfb and speculation of a tender. On my personal opinion, a tender may not be likely. If they are forced to tender, they may rather just not push thru with the additional acquisition, thereby passing the over 35% ball to Ramon Ang/Henry Sy's court, who will be faced with the same tender charges as they opted to take the same method of splitting acquisitions via proxy/satellite company route.
Banks faced NFS: MBT 58M, PNB 16M, while BDO got 46m nfb.
The Ayala companies AC ALI BPI led the index losers with a combined 14 point loss.
Overall best gainers include ISM .065, JOH 2.10, FAF .91, PCOR 5.70, MVC .95, APM .0085, PX 17.50, losers were dotted by ANI PNB AB ALI EVER.
Some continued selling by SB Equities put yesterday's gainer ANI back down to 28 on 62m nfs.
TOTAL FOREIGN BUYING : P 1,211,368,404.30
TOTAL FOREIGN SELLING : P 1,132,147,281.50
NO. OF ADVANCES: 47
NO. OF DECLINES: 64
NO. OF UNCHANGED: 56
NO. OF TRADED ISSUES: 167
NO. OF TRADES: 10,612
LEGEND:
NFB : Net Foreign Buying
NFS : Net Foreign Selling
PHP : Philippine pesos
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