TOP REPORTS: TEL, VITA, KEP
Indices
Around 10 AM, PSEi got past its 8 October 2010 High, but at 10:35 AM it dropped to 3,860.02. All industry indices also dropped except SVC, indicating profit-taking from yesterdays buying binge. Value turnover is very thin at 898 million pesos. ALL Shares Index however gained 0.55%, with 44 stocks advanced, 66 declined, and 46 unchanged.
The market closed with a value turnover of only 3.1 billion, the thinnest so far before and after Saint Valentine's Day, despite 56 advances, 66 declines and 45 unchanged.
PSEi closing dropped 15.14 points, or 0.39%. But it managed to go up 18.40 points, or 0.48%. IND and M-O indices managed to slimly keep themselves afloat while the rest of the indices plunged into red.
Most Active
SM Development Corporation (SMDC) traded P113.68 million in value around the same time. TEL followed with P73.67 million. SMDC opened at 7.25 but quickly retreated to 7.10 as more low priced bidders dominate the market.
Around 10:40, buyers took on 7.20 a share in thousands but cannot keep the price up against downward sellers who dispose at BID7.19 in tens of thousands, as more 7.20 askers are selling off. By 11:00, ASK reached 7.21 as buyers from ATR took charge. But a dump of stocks from LUCKY at 7.15 brought the prices down, initiating a spiral drop to 7.10. But sellers failed to break through the 165,000 shares available at that level.
By 11:09, TEL took over the lead in turnover value, reaching P121 million over SMDC's 117 million. Sell-off transactions dominated the day at a ratio of 9-to-1, mostly from DEUTSCHE. TEL poised to lead the bourse again in most turnovers.
TEL kept the lead until the market closed with P271 million. Aboitiz Power Corporation (APC) took over the second slot with P201.78 million in value.
Top Gainer
Interport Resources Corporation, common A shares (IRC) topped at 19.40% grain in price. San Miguel Pure Foods Corporation (PF) followed with a 15% surge.
IRC had a sleepy performance throughout the day, with only two BUY transactions at P0.80 a share. It however lost the lead to Vitarich Corporation (VITA) when the latter surged as two sole buyers took 20,000 shares at ASK0.44. It gained 22.22% gain from yesterday's closing price, while IRC slid to the second slot.
Worst Loser
On the red bottom JTH Davis Holdings Inc. (JTH) took earlier on the worst spot with a loss of 10.53%. Transpacific Broadband Group International Inc (TBGI) followed at minus 7.25%. JTH opened at P1.72 a share but dropped from a sell-off to P1.70 within 20 minutes, and thereafter refused to budge beyond the fifth transaction. It disappeared from the worst losing list as Keppel Philippines Properties Inc. (KEP) took teh worst hit with a loss of 16.28%. Two sole SELL transactions at BID1.80 brought its price down from yesterday's closing of P2.15. Manila Jockey Club Inc. (MJC) took the second worst loss for the day.
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