Market Outlook

Light trades are seen with most foreign investors still on their New Year holiday.

Today mark’s the final trading day of the year, with the PSEi closing the penultimate trading day of the year up by +0.87% to 6,519.

Overall, expect optimism to prevail, anchored mainly on lessrestrictive monetary policies in 2024.

A generally upbeat tone might be seen, as participants take their cue from Wall Street’s incline (DJIA +0.87%, Nasdaq Comp. +1.26%).

Movements might remain range-bound, on tightening activity between buyers & sellers.

The PSEI has sustained its upward momentum, demonstrating resilience with its fourth consecutive day in the green.

Follow-through buying might be visible, as fund managers seize on the recent drop to position.

Rebounding after plunging below the 6200 level, the index managed to close yesterday’s session with a gain of +1.03% at 6,292.39.

Follow-through buying might be visible, as fund managers seize on the recent drop to position.

Gauges might need to stabilize above 6,200 for now, to support sturdier ascents towards 6,400-6,500.

The PSEi registered gains as investors took note of the better-than-expected CPI print released prior to trading.

Market watchers would check for possible follow-through response to favorable inflation in November (4.1% vs. 4.9% in September), while monitoring momentum improvement in turnover.

Sessions might be range-bound, given yesterday’s total turnover, as investors heed for other catalysts to prod aggressive positioning.

The PSEI slumped on the second straight day as investors sealed their gains during the prior rallies.

Participants might gauge whether the PSEi could keep its head aloft 6,200, given yesterday’s trend.