PSEi 3,052.61 UP 20.52
value php 4,246,223,035.00
DOW 30.46 +0.29% 10,437.42
NASDAQ 5.93 +0.27% 2,203.78
S&P 500 0.87 +0.08% 1,110.17
Correction slash rally for wall street, continued mixed rally for the pse.
Today, the oddballs PX and MER reclaimed their oddball crown and took the lead. PX rallied 1.25 to 15.25, worth 10.7 psei points, while MER gained 4 to 216 worth 4.7 points. Granted that the past two day's drop despite wall street's 1.4% rally, I guess their trades today pretty much evens out the slate and resets the market.
Some other bluechip rotational buying could be said for ALI 12.25, MBT 46, PNB 26, BDO 39.50, URC AEV JFC DMC. About 1/3 of the index stocks traded flat, whereas the other 1/3 cooperated with the bulls and were down only slgihtly each, led by AC's one fluctuation 5 peso drop to 305 worth 3 points.
Top gainers with relative volume were MRAY SEVN AB/B PX IPO, while top losers were UNI OPMB PRIM.
Many second liners gained intra day but failed to sustain and even closed lower like I NI ACR LIHC .
AC ALI enjoyed a combined nfb of about 200m php. The banking sector rally seems to be tapering off.
The day we have good sustained across the board rally for just one week is the day we get back to the 6B volume average per day.
Crude oil on the Nymex steadies near $78 as Opec and other countries state production increases even amidst increasing inventories, while local pump prices return to "free market" mode with the peso dancing at 46.7 level.
TOTAL FOREIGN BUYING : P 1,420,855,129.00
TOTAL FOREIGN SELLING : P 1,074,644,984.50
NO. OF ADVANCES: 53
NO. OF DECLINES: 61
NO. OF UNCHANGED: 70
NO. OF TRADED ISSUES: 184
NO. OF TRADES: 12,081
LEGEND:
NFB : Net Foreign Buying
NFS : Net Foreign Selling
PHP : Philippine pesos
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