Index sustains winning streak

March 11, 2025 | 12:00am

MANILA, Philippines — The local stock market kept its winning streak alive, opening the week higher as investors maintained their optimism following recent positive developments locally and abroad.

The Philippine Stock Exchange index (PSEi) climbed by 0.99 percent or 62.48 points to finish at 6,360.77, its sixth straight session in the positive territory.

The broader All Shares index also rose by 0.66 percent or 24.72 points to settle at 3,748.92.

“Philippine shares continued the recovery, getting a boost from the better than expected CPI (consumer price index) reading and strengthening peso,” Luis Limlingan of Regina Capital said.

Limlingan said that the CPI report on Wednesday will be a key economic event in the United States this week, as it could influence market expectations ahead of the March FOMC meeting.

RCBC chief economist Michael Ricafort, meanwhile, said that the market’s sustained climb yesterday was also supported by US equities, which bounced back on Friday.

“The PSEi also gained after the latest upward correction in the US stock markets from new four-month lows after mostly softer-than-expected US jobs/employment data that could support future Fed rate cuts,” Ricafort said.

Net value turnover during yesterday’s session reached P5.32 billion. Foreigners were net buyers with net inflows at P1.41 billion.

All sectors were in the green, led by mining and oil which surged by 3.74 percent.

Market breadth was positive as advancers beat decliners, 122 to 76, while 48 stocks were unchanged.

ICTSI was the most actively traded stock, increasing by 1.3 percent to P390 per share, followed by BDO which inched up by 0.32 percent to P158.

Among index members, Bloomberry Resorts gained the most, soaring by 14.55 percent, while Monde Nissin posted the largest drop at 4.12 percent.