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Local equities may continue to advance for the third straight session, as some investors position in select large-caps.

Participants are likely to monitor continuity of yesterday’s recovery, especially for select sectors that led the rise (I.e., property & services).

The PSEi closed sharply at 6158.48, a volatile session within 6158.48-6394.33.

Caution might be the main theme this week with the quarter-end portfolio closing.

The PSEi rose by 1.33% w/w to close at 6,518.76 (+85.66 pts).

Sentiment might take its cue from DJIA’s ascent, on prospects for the Fed’s policy easing & reports of accommodative policies from China.

Participants might bid for time to check on turnover improvement, supporting local benchmark’s sideways movement.

The PSEi closed at 6368.80, showing a range between 6343.69 and 6459.38.

Another range-bound session & selective trade might persist, unless significant build-up in turnover occurs for local equities.