Recap: Bargain hunters boost market sentiment

Here’s your rundown of last week’s market activity from First Metro Securities.

• RCR: RL Commercial REIT, Inc. (RCR) reported a 38 percent increase in its unaudited net income for 2024, reaching P6.13 billion, fueled by recent asset acquisitions and stable occupancy rates of 96 percent.
• Bargain hunters lifted sentiment as they took advantage of market weakness post-Philippine Stock Exchange Index (PSEi) rebalancing.
• Foreigners have been net buyers for six consecutive trading days.
• Philippines’ inflation held steady at 2.9 percent last January 2025, which is within the Bangko Sentral ng Pilipinas’ (BSP)  monthly estimates (2.5 percent to 3.3 percent) and national government’s target (2 percent to 4 percent).

• The PSEi advanced and closed at 6,154.99 pts, +4.99 percent week-on-week, but still down by 5.73 percent year-to-date.
• For those looking to take positions, consider to buy in tranches if the index show signs of reversal and breaks above the 6,400 or 6,700 resistance levels.
• Considering FirstMetroSec Research Team’s end-2025 index target cases: Bear (6,600), Base (7,600) and Bull (8,600), the market is currently pricing in our bear case assumptions.