Market Outlook

Expect volatility, as participants weigh on the PSEi’s staying power above the 6,000 zone.

Expect volatility given the month-end portfolio repositioning & sequels to the Blue Ribbon Committee’s 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 stocks’ 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 committee’s hearing, especially on sequel testimonies from parties involved.

The PSEi closed lower by –1.55% 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 Ribbon’s sequel probe on flood control issue.

The PSEi increased by 2.54% w/w to 6,264.49 (+155.28 pts), breaking above the 6,200 level midweek.

Sentiment might take its cue from US equities’ Friday rally, on hopes for continued easing cycle from the Fed.

The PSEi extended its rebound, closing at 6,233.62 with a +0.37% gain as it attempts to stabilize above the 6,200 support zone.

Possible profit-taking might be in store, given the local bourse’s run-up.

Participants might laud the Fed’s move to reduce its benchmark interest rate by 25bps, with hints for more potential cuts in sequel meetings for 4Q.

The PSEi came off stronger from its previous week stretch, closing with a gain of +1.51% on par with its latest resistance level indicating a rally from investors.