Market Outlook

The PSEi dropped by -1.97% w-o-w to close at 6,142.90, breaking below the 6,200 support level.

Raining reds? The PSEi ended on a red declining by -0.78% or -49.11pts to 6,219.16 yesterday.

The mood might stay cautious for now, with global investors attuned to headlines on the Israel-Hamas conflict, including results of Pres. Biden’s visit.

Fingers-crossed this is not a dead cat bounce! 🤞🏻

Market participants would check for continuity of yesterday’s ascent, as investors heed for the release of 3Q earnings results from listed firms.

Expect volatile trades, as sentiment remains glued to geopolitical headlines.

Movements might remain limited for now, as the global investing community remain alert on the situation in the Middle East & potential ripple-effect to the commodities market.

The PSEi saw some upward movement in yesterday’s trading as it closed at 6,280.

The PSEi changed slightly in yesterday’s trading, as it looks to hold at its current range.

Market participants may weigh reception to local industry players’ move to reduce fuel prices, or skew in favor of the recent Mideast conflict’s effect on sequel oil pricing.

The PSEi retreated by -0.97% w-o-w to close at 6,259.95 (-61.29pts).

The PSEi tumbled below the 6200-level, with a candle that almost resembled a bearish marubozu candle.

Market participants will monitor progression on the lifting of rice price ceiling, parallel to the approved fare hike of LTFRB for jeepney vehicles.

Subdued sessions are seen following the PSEi’s decline yesterday, as participants await for the release of September inflation.

The index closed at 6,385.32 as the index bounced back.