PSEi ends first quarter near 6,200

Traders shopped for lower-priced stocks on Monday ahead of a holiday and the release of key economic data here and abroad.

By the end of the session, the benchmark Philippine Stock Exchange Index (PSEi) gained 0.54 percent, or 33.28 points, to close at 6,180.72.

Likewise, the broader All Shares Index added 0.3 percent, or 10.93 points, to 3,677.88.

A total of 1.15 billion shares worth P5.31 billion changed hands, stock exchange data showed. Foreigners opted to sell their stocks, with foreign outflows totaling P250.04 million.

Luis Limlingan, head of sales at stock brokerage house Regina Capital Development Corp., said the bourse traded mostly in the red during the day before settling just below 6,200 as investors bought stocks before the Eid al-Fitr holiday.

According to Limlingan, traders will likely watch out for the Bangko Sentral ng Pilipinas’ rate-setting meeting on Thursday and the release of March inflation data on Friday.

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In the United States, Federal Reserve officials are also expected to deliver speeches possibly hinting at their next monetary policy stance.

At the same time, traders may take a cautious stance once US President Donald Trump announces new tariff policies later this week, said Japhet Tantiangco, research head at Philstocks Financial Inc.

Banks and services firms ended in the red territory due to declines in index heavyweights BDO Unibank Inc. (down 0.45 percent to P153.30), Bank of the Philippine Islands (down 1.93 percent to P132) and International Container Terminal Services Inc., which was the top-traded stock (down 4.05 percent to P355).