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Similar movement of solid opening followed by range-bound pattern is seen for equities, as most fund managers reposition cash in select oversold index shares.

The PSEi slipped to 6,294.11 (-0.07% w/w), shedding a modest 4.18 pts but holding above the 20-day and 50-day moving averages.

Gauging from the recent trend in net foreign buying position, gauges might be poised to affirm its strength within 6,400-6,500, possibly on gradual mode.

The PSEI inched higher by +0.76% intraday, attempting to regain momentum as it now holds above its short-term MA.

Given US markets’ renewed slump, expect volatility from the latest traderelated issues within the wines/spirits market.

Another range-bound session is seen, as market participants heed for sequels to ongoing political headlines at home.

Regional markets’ attention might sway into the US inflation print, due Wednesday;

The market appears prepared to establish its footing around the 6,000 level, with market participants encouraged with the softer inflation level recorded in February.

The PSEi remains to be traded below its key MA levels despite its intraday gain of +1.60% to 6,219.96.