trading week of the year coincided with the observance of Holy Week, in a shortened session that culminated on “Spy Wednesday,” April 5. Characteristically, the market moved the way how it did in the past during these times: It closed on a downward bias in muted trading with light trading volume and total value turnover.
Foreign investors were net sellers for the day, too. But the total of their transactions amounted to only 48.15% of total market value turnover that they did not have any impact on the market’s direction for the day. Because total value turnover was relatively low at P3.99 billion while total volume was exceptionally high at 2.39 billion shares, trading revolved around small cap stocks.
to 7.6%, in comparison to the 8.6% for the month of February. The market slightly recovered to close at 6,488.51 of the PSEi, up 16.47 points or 0.25%, again on a thin volume of 1.08 billion shares and lower total value turnover of P3.38 billion only. The NFP is a monthly report that estimates the net number of jobs gained in the US in the previous month, excluding those in farms, private households, and non-profit organizations. It was further exacerbated by the recessionary jitters fanned by the CNBC television interview of Jamie Dimon, chairman and chief executive of JP Morgan Chase.