Stock market rises as inflation stays within forecast

The local stock market gained momentum as inflation figures remained within the government's forecast range.

The benchmark Philippine Stock Exchange Index (PSEi) increased by 3.15%, closing at 6,281.08, while the All Shares Index rose by 2.18% to settle at 3,696.66.

Philstocks Financial Inc.'s senior analyst Japhet Tantiangco noted that January's inflation rate of 2.9% boosted investor confidence and set expectations for continued monetary policy easing by the Bangko Sentral ng Pilipinas (BSP).

Property and holding firm indices were leading gainers, rising by 4.81% and 4.09%, respectively.

SM Prime Holdings was the most actively traded stock, closing at P26 with a 7.22% increase.