Philippine Stock Exchange Index (PSEi) Trend Analysis: March 1-9, 2021

The Philippine Stock Exchange index (PSEi) showed a mixed trend over the week of March 1-9, 2021, reflecting investor sentiment towards the ongoing coronavirus pandemic and other economic factors.

On Tuesday, Mar 9th, the PSEi ended its three-day slide with a slight increase of 0.15%, driven by buying activity in Financials (+0.62%), Holding Firms (+0.26%), Mining and Oil (+0.25%), Industrial (+0.18%) and Services (+0.11%).

The following day, Mar 10th, the PSEi continued to recover with a gain of 0.61%, as last-minute buying activity picked up after daily new COVID-19 cases remained below 3,000.

On Wednesday, Mar 10th, the index closed at 6,808.32 points, while All Shares Index rose slightly by 0.08% to close at 4,078.35 points.

However, on Thursday, Mar 11th, the PSEi dropped back down as daily new COVID-19 cases increased and local government units reimposed curfews in response, causing a sell-off of shares.

On Friday, Mar 12th, the index recovered slightly with an increase of 0.15%, but All Shares Index fell by 0.11% as investors stayed on the sidelines amid ongoing concerns about the pandemic and economic recovery.

Throughout the week, the Philippine peso also showed a mixed trend against the US dollar, ending sideways at 48.48 from 48.56 on Mar 9th.