Market Outlook

After recent attempts at recovery, the PSEI slipped by -0.87% intraday.

Range-bound session is seen, as participants monitor supply pressure on rallies.

Eyes are set whether local gauges would continue to advance to a higher range, as investors monitor the release of 2024 corporate earnings.

Market investors will stay glued on continuity of yesterday’s rally, with special emphasis on select large-caps that primed the ascent.

Light sessions might prevail, with foreign fund managers on their extended weekend break with the Presidents’ Day holiday.

Sessions might be range-bound, as participants heed for macro catalysts to counter supply presence on rallies.

The PSEi increased by +1.14%, closing at 6,113.19.

Local participants would check on possible rises to 6,200, given the recent recovery, as others monitor supply availability on rallies.

Attention is on BSP’s policy meeting, with consensus for possible 25bps rate cut.

The PSEi remains under pressure, declining by -0.82% intraday and slipping below the 6,000 mark once again.

Buyers might bid for time until sessions break-away from the usual solid opening, only to meet supply pressure in the process.

Renewed positioning might be in store for local equities, as buyers aim for the 6,000 mark.

The PSEi surged above its 6,000 support ending the week up 4.99% w/w at 6,154.99 (+292.40 pts).

Focus is set on MSCI’s basket review, that would be balanced by rate cut expectations from local monetary policy makers’ meeting this week.

The PSEi decreased by -0.62%, closing at 6,241.97, trading below MA levels.