Daily Market Notes December 28, 2009
December 28, 2009 by dragon
PSEi 3,032.84 UP 8.51
value php 2,033,967,855.00
DOW 53.66 +0.51% 10,520.10
NASDAQ 16.05 +0.71% 2,285.69
S&P 500 5.89 +0.53% 1,126.48
Wall street continues with its step by step window dressing, now entering fresh 52 week highs and the DJIA now breaking 10,500.
Local traded volume were anemic at 2B pesos, 800M of which were even just crosses of CHIB and SM. Total number of trades fell to 3,800, which was half that compared to the middle of this month.
The PSEindex traipsed between the zero postive and negative line many times, before the window dressers finally settled the index up 8 points, thanks to TEL EDC SMPH PX FPH MBT.
Most of the top 10 losers and gainers didn't show volume either.
With the last trading day of the year coming up tomorrow for the Philippines, expect more of the same lackluster volume but bulls probably winning out in the end.
Crude oil on the Nymex rose to $78.
TOTAL FOREIGN BUYING : P 411,857,759.70
TOTAL FOREIGN SELLING : P 409,254,714.08
NO. OF ADVANCES: 53
NO. OF DECLINES: 43
NO. OF UNCHANGED: 50
NO. OF TRADED ISSUES: 146
NO. OF TRADES: 3,890
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