ICT continues its rebound after the previous pullback, now gaining +0.20%, closing higher at 500.0 than the 50-day MA, showing slight bullishness from investors.
JFC closed marginally higher by +0.19% at 215.00, stabilizing after its recent declines.
The PSEi closed slightly higher by +0.23% at 6,039.76, showing a small bounce after recent losses.
Participants may continue to monitor how the local bourse would gather momentum, to firm-up its base above the 6,000 zone.
Expect volatility, as participants weigh on the PSEiās staying power above the 6,000 zone.
Expect volatility given the month-end portfolio repositioning & sequels to the Blue Ribbon Committeeās flood control issue hearing.
The PSEi slipped by 3.79% w/w to close at 6,027.12 (-237.37 pts.), reversing last week’s gain.
Resumed buying is seen, as investors position in key stocksā oversold state.
Participants may monitor continued net foreign buying in select shares, while sentiment remains anchored on domestic political headlines.
The spotlight is on continuation of the Senate Blue Ribbon committeeās hearing, especially on sequel testimonies from parties involved.
MER continues to move downwards as it maintains its consecutive loss throughout the open.
BDO closed at 140.00, dropping ā3.31% as profit-taking hit after recent gains.
The PSEi closed lower by ā1.55% at 6,118.54, extending its recent weakness as the index struggles below key moving averages.
Sessions might remain subdued for now, as investors check on catalysts that could boost aggressive buying.
Expect choppy trades, as attention might skew to the Senate Blue Ribbonās sequel probe on flood control issue.
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