Daily Market Notes February 1, 2010
February 1, 2010 by dragon
PSEi 2,883.21 DOWN 69.98
value php 6,961,795,220.00
value sans block 2.3B
DOW 53.13 -0.52% 10,067.33
NASDAQ 31.65 -1.45% 2,147.35
S&P 500 10.66 -0.98% 1,073.87
Sell on rallies. What rallies? Some who bought the technical oversold stocks last week for the bounce play cut or are now stuck, sending more on the sell on rally queue.
Wall Street’s way better than expected GDP produced a very short lived intraday rally which was still also sold on. Futures are now pointing higher, creating the drift near 10k before a possible piercing through after this oversold bounce plays out.
Locally, over 4B shares of EDC were block sold at 5.10 to an as of yet undisclosed investment fund bought from the GSIS. This may be one of the short term plays.
Pop Star SMDC Pops to 5.60 yet fizzles back to 5 but buyers were so quick to gobble yet sending this only to 5.10.
MER treacherously sold off on all those buyers from 150 to 155, sending it plunging further to a 145 peso day low, but closing at 152.
Only one index stock gained, GLO, and it was even a mark the close one fluctuation gain.
TEL’s 85 peso drop to 2585 was the PSEi’s clear index loser leader whose fall was worth 24 index points. MER’s fall was worth 12 psei points, while AC’s drop to 277.50 was 8.50 worth, these three alone had a combined drop worth 44 psei points.
Some best overall gainers: ORE EVER MRC FAF MED EEI BRN IP, while worst losers: ICTV IS PAX ALCO UPM
TOTAL FOREIGN BUYING : P 860,228,092.20
TOTAL FOREIGN SELLING : P 1,012,306,134.36
SPECIAL BLOCK SALES:
(EDC) CORP. 457,073,750 @ P5.1 (P 2,331,076,125.00)
(EDC) CORP. 457,073,750 @ P5.1 (P 2,331,076,125.00)
———————
TOTAL (P 4,662,152,250.00) %MKT 66.967
=====================
NO. OF ADVANCES: 15
NO. OF DECLINES: 103
NO. OF UNCHANGED: 40
NO. OF TRADED ISSUES: 158
NO. OF TRADES: 7,858
LEGEND:
NFB : Net Foreign Buying
NFS : Net Foreign Selling
PHP : Philippine pesos
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