Market Outlook

The PSEi ended with a modest gain of +0.48%, closing at 6,378.86/sh.

The market might take comfort from Pres. Trump’s latest statement in the World Economic Forum calling for OPEC to reduce prices & for central banks to support lowering interest rates.

Market participants may continue to monitor supply presence in select sectors during intra-day strength, as sentiment takes its cue from Wall Street’s incline.

The PSEi ended yesterday’s session with a doji candlestick, reflecting market indecision as price action remains anchored at the 6,300 level.

Participants may continue to search for trading windows in select stocks, while heeding for latest corporate earnings & other new leads.

Activity might remain light, as global fund managers’ attention is swayed to movements at the crypto & currencies market.

Sentiment might take its cue from US equities’ overnight incline Friday, as global markets monitor sequel policies from the formal inauguration of Pres. Trump’s administration.

The PSEi slid below its 6,400 support, driven by heavy foreign selling, ending the week down 2.22% w/w at 6,352.12 (-144.20 pts).

The PSEI decreased by -1.03%, closing at 6,265.52/sh.

Investors would be monitoring for possible repeat of prior session’s MOC-selling, especially on intra-day rallies.

Local equities may take its cue from Wall Street’s incline, riding on solid earnings from financials & latest CPI gauge in relation to the Fed’s possible course on interest rates.

The PSEi struggled to stay afloat this week, with another bearish session keeping the index in the red for most of the trading day and ultimately closing just below the 6,300 level.

Participants may adopt a wait-and-see mode for now, given supply pressure that typically comes out on intra-day ascents.

Gauges might be poised for recovery, as buyers aiming to position on lows find the 6,300 zone attractive.

The PSEi pulled back by 1.63% dragged by heavy foreign outflows as it retested key resistance zone around the 6,600 to close at 6,496.32 (-107.49).