Philstar
Positive leads on inflation lift stocks
Share prices surged on Thursday, marking a strong start to the second quarter for the local stock market, driven by positive expectations for the country's March inflation data.
The benchmark Philippine Stock Exchange index (PSEi) climbed by 1.08 percent, or 66.96 points, to close at 6,247.68.
This surge is fueled by expectations of a low inflation print for March, which would give the Bangko Sentral ng Pilipinas (BSP) more room to cut policy rates in April.
The Philippine Statistics Authority is scheduled to release the March inflation data on Friday.
Net value turnover stood at P5.07 billion, nearly the same as the previous trading day.
All sectors were positive except for industrials, which saw a slight decline.
The financials index led the gains, soaring by 2.86 percent, followed by mining and oil which increased by 1.58 percent.
Market breadth was positive, with 110 advancers outpacing 82 decliners, and 54 issues remaining unchanged.
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The Bangko Sentral ng Pilipinas (BSP) forecasts March inflation to be between 1.7% and 2.5%.
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Inflation in the Philippines eased to a six-month low of 1.8% in March 2025, the lowest rate since May 2020.
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Analysts anticipate that inflation in the Philippines further slowed in March due to decreasing food prices and reduced transportation expenses.
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The Philippine Stock Exchange Index (PSEi) closed the first quarter at 6,147.44, marking a 0.13% increase driven by bargain hunting.
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The Bangko Sentral ng Pilipinas (BSP) is expected to implement a 25-basis point interest rate cut this Thursday, April 10, potentially lowering the key policy rate to 5.5 percent.
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