PH Market Outlook | Oct 1, 2021 | Philstocks



Trade within the market’s range, 6,800 to 7,100. Today’s trading will hinge on the decision of the government for the quarantine measures this October. An easing of restriction is positive for the market, however, if the government extends the current alert level, the sentiment could be mixed. On a positive note, we do not see an imposition of stricter guidelines since the new Covid-19 cases are slowing down already.

Chart-wise, we see the market’s conviction in yesterday’s trading but the resistance remains at 7,000 to 7,100. Investors may also book some gains on the last trading day of the week.

Market Warp

The local bourse gained 18.77 points (+0.27%) to 6,952.88 as investors anticipate easing of restrictions starting October 1 despite a higher unemployment rate in August.

The market awaits the decision of the government for the next quarantine measures that should be announced today. Given that the Covid-19 cases show signs of slowing down, investors anticipate laxer quarantine measures this October. In addition, month-end window dressing also pushed the market to end in the green.

Meanwhile, investors shrugged off the higher unemployment rate in August since we think that, this has already been priced in by the investors. If we can remember, the government imposed the strictest lockdown measures once again in August so the unemployment rate is expected to be higher than July. We saw the conviction in the market as value turnover is posted at P9.87 Bn, higher than this month’s average of P8.71 Bn.

Sectors are mixed with Industrials leading the advancers, up by 2.19% while Properties lost the most by 0.79%.

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