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Sentiment might take its cue from Wall Street’s overnight advance, on optimism for resolution to US-Iran rift.

The index closed -0.74% lower after a modest rebound, remaining below key moving averages as the local bourse prompted selling amid inflation figures.

The market may get feelers on participants’ reaction to April’s 7.2% inflation (four-month average of 3.9%), including BSP’s sequel action to control higher consumer prices.

Supply pressure might step in, as participants weigh Pres. Trump’s assurance on the safe passage of commercial vessels at the Strait of Hormuz.

The PSEi fell 1.85% or 109.85 pts. w/w to close at 5,833.64.

The market might take its cue from US equities’ Thursday advance (mainly on positive 1Q GDP), as investors sift through 1Q earnings releases from select large-caps.

The highlight is on the current impasse in peace negotiations between US-Iran, with an extended timeline seen to impact global economies.

The index slipped -0.58% continuing the losing streak and continues to trade below all neutral key moving averages, keeping the broader tone bearish.

Mixed session is seen, as market participants balance 1Q headlines versus the wider geopolitical backdrop.

Equities investors are likely to assess prevalence of supply pressure, especially on intra-day rises, as several check on 1Q earnings data from select large-caps.

The PSEi declined by 0.93% w/w to 5,943.49 (-55.64 pts.), extending its pullback after failing to sustain levels above the 20-day moving average (MA).