PSEi up 0.13%, boosted by BSP rate cut hints and low inflation

The Philippine Stock Exchange Index (PSEi) continued its upward trend on Tuesday, rising by 0.13 percent or 8.36 points to close at 6,433.60.

Investors were buoyed by the Bangko Sentral ng Pilipinas' (BSP) indication of potential additional rate cuts this year and June's lower-than-expected inflation rate of 1.4 percent, which is the lowest since November 2019.

The services sector saw significant gains with a rise of 0.77 percent, while most other sectors ended in losses.

Mining and Oil led the losers with a drop of 0.43 percent, followed by Financials, Property, and Industrial sectors.

Overall, there were more gainers than losers on Tuesday, with 104 stocks rising compared to 96 declining.