Market Outlook

Tight trading zones may continue, as participants digest 1Q23 interim results & capex guidance from select listed firms to get a general feeler on sector trends.

Barely a few points shy to breaching the 6,600 mark, some might seize on this strength to cash-out, while waiting for clearer guidance on

The PSEi rebounded last week, however, value turnover averaged only at P3.8bn.

Expect volatility this week, as investors check for month-end portfolio re-balancing.

The index closed slightly lower at 6,464.72 moving closer to its support of

Potential retest of 200EMA trail resistance.

Light sessions might continue, as participants check for catalysts to prod aggressive positioning.

Participants might look forward for 1Q23 earnings guidance for most of the week, as several listed firms line-up for their annual generation meeting (AGM) season.

The market traded in a tight range last week, however, the PSEi still closed below the 200-day MA.

Sentiment might take its cue from US equities’ overnight advance (DJIA +1.14%, Nasdaq Comp. +1.99%), as well as indications from BSP Gov. Medalla for consideration of rate pauses given the recent MoM inflation trend.

Mixed views are seen, as fund managers balance inflation estimates against the recent uptick in crude prices.

After a few small continuous uptrends, the PSEI has finally went back to 6,500 where prices managed to briefly consolidate.

Sessions might trend higher, as participants cheer slower inflation for March (7.6% vs. Feb.’s 8.6%).

The market traded in a tight range last week, however, the PSEi still closed below the 200-day MA.

Tight trading sessions are seen, as several investors prepare for the Lenten break.