Share prices ended modestly higher on Tuesday as investors cautiously took positions ahead of the Bangko Sentral ng Pilipinas’ (BSP) policy meeting this Thursday, anticipating an announcement of an interest rate cut.
The benchmark PSEi rose 10.61 points or 0.17 percent to close at 6,369.19. The broader All Shares added 15.41 points or 0.41 percent to 3,783.86.
“Investors are anticipating a possible cut in key rates, which could lift sentiment moving forward,” Alfred Garcia, head of research at AP Securities Inc., said.
Rizal Commercial Banking Corp. chief economist Michael Ricafort said the BSP may trim policy rates by 25 basis points to help ease borrowing costs and support economic momentum.
Advancers outnumbered decliners 124 to 82, while 42 stocks were unchanged. Total turnover reached P5.94 billion, with 2.11 billion shares changing hands across 64,195 trades.
Foreign investors were net sellers, unloading P15.05 million net, based on P2.73 billion in sales versus P2.71 billion in purchases.
Among sectoral indices, industrials led the gains with a 1.18-percent rise, while the banking sector slipped 0.24 percent.
