Market Outlook

Participants might adopt a cautious stance this week, ahead of guidance from the US FOMC meeting on 19-20 March (US time).

Market players will monitor possible cross above the 7,000 mark, to check whether profit-taking might emerge.

The local bourse managed to settle higher by +0.11% to 6,878.49, albeit ended on a red inverse hammer.

Eyes are set on possible move above the 7,000 zone, as investors check on continuity of Friday’s momentum.

The PSEi rose by +0.33 w-o-w to end at 6,942.21 (+22.62pts).

The PSEi dipped for the third consecutive day yesterday, settling at 6837.34, down by -0.60%.

Having softened below the 6,900 mark, participants would check on the likelihood for continued supply pressure at current levels versus fresh buying support.

The local bourse concluded trading Tuesday in the red, logging a decline of -0.66%, settling at 6,905.46.

Sideways trend is seen, as investors sift through earnings results from listed firms, while some might glide to Wall Street’s softer tone.

Stabilization within 6,850-6,950 zone might be seen on the interim, as part of liquidity finds its way into equities.

The PSEi ended the week flat at 6,919 (+6.38pts; +0.09%).

The local bourse ended the trading session in the greens, inching towards the 7,000 levels.

Sentiment might take its cue from Wall Street’s incline, after PCE index was in-step with estimates (+0.3% in January).

The local bourse ended the trading session down by -0.45% to 6,861.

Another range-bound session is seen, with the month-end portfolio rebalancing.