PH Market Outlook | Oct 5, 2021 | Philstocks

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Impression

Trade cautiously as the market may trade based on the inflation rate for September that will be released today. Although it is anticipated already that the inflation rate this September will shoot up to above 5%, if it comes worse than the forecast, we expect negative sentiment to weigh on the market. The Bangko Sentral ng Pilipinas (BSP) eyes September inflation at 4.8% to 5.6%. If it prints around the upper-end forecast, investors may take some profits. Meanwhile, Philstocks estimates the inflation rate to settle at 5.2%. The current market range is from 6,800 to 7,000. Investors may also book some gains near the 7,000 psychological level.

Market Wrap

The local bourse climbed this Monday by 37.29 points (0.54%) to 6,960.89. The continuous improvement in our country’s COVID-19 situation fueled the optimism for the day. Sentiment also got a boost from the expansion of our manufacturing sector last September as shown by the IHS Markit Philippines Manufacturing PMI with a reading of 50.9. Trading weakened however with net value turnover registering P5.61 billion, below Friday last week’s P6.27 billion, and the year-todate average of P7.16 billion. Foreign transactions ended with net outflows amounting P336.54 million.

Only the industrials lost amongst the sectors, shedding 0.31%. The rest advanced led by the miners, adding 2.06%. Gainers and losers were equal at 93.

Robinsons Retail Holdings, Inc. [PSE: RRHI] was the top index gainer for the day, jumping 5.04% to P55.25. Aboitiz Power Corporation [PSE: AP] was the main index laggard, falling 3.48% to P30.55.

SOURCEPhilstocks
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