Market Outlook

The PSEi ended flat w/w to close at 6,619.89 (+1.20 pts; +0.02%).

Movements might be range-bound, pending fresh catalysts to pump up aggressive positioning.

The PSEI rebounded and up by +0.80% to 6659.99.

Participants would monitor whether sentiment would sway to Wall Street’s weakness, or continue prior session’s strength.

Attention would be on the PSEi’s staying power above the 6,600 level, or retrace near 6,500.

The PSEi closed on a red candle after it was rejected at 6700 levels near 50MA and 100MA.

Expect range-bound movements for now, as participants check for possible continuity of selling pressure especially on intra-day rallies.

Local equities may continue its ascent, as fund managers position in select stocks backed by improving momentum indicators.

Movements might be range-bound, as investors revisit corporate stories, specifically expansion plans & other M&A angles.

The PSEi rose by +1.64% w-o-w to close at 6,618.69.

The local bourse closed positive at 6628.20 after a sell-down the other day.

Sentiment might glide to US equities’ ascent, as slower inflation in April support hopes for the Fed’s rate cut.

The local bourse closed higher at 6608.36.

Sessions might glide to Wall Street’s incline, given indications from Fed chief Powell on interest rates.

Sessions might move sideways, possibly with an upward bias, as investors sift through select shares with attractive valuation.