The local bourse's main index gained on Monday while the peso ended sideways against the United States dollar as investors awaited the release of the February 2023 inflation rate.
The Philippine Stock Exchange index (PSEi) rose by 0.24 percent, or 15.75 points, to 6,671.12 points.
All Shares followed which increased 0.24 percent, or 8.64 points, to 3,573.06 points.
Most of the sectoral gauges also increased during the day, led by the 1.27-percent rise of the Services index.
It was trailed by Property, 0.54 percent; Mining and Oil, 0.36 percent; Industrial, 0.20 percent; and Financials, 0.002 percent.
Only the Financials index ended the day in the negative territory after it slipped by 0.10 percent.
Volume reached 659 .95 million shares amounting to PHP4.75 billion.
Advancers led decliners at 102 to 83 while 45 shares were unchanged.
Meanwhile, the local currency gained against the US dollar after finishing the day at 54.88 from 54.82 close last Friday.
It opened the day at 54.8, an improvement from its 54.95 start in the previous session.
It traded between 54.91 and 54.76, resulting in an average of 54.844.
Volume went down to USD810.1 million from USD1.29 billion previously.
Rizal Commercial Banking Corporation (RCBC) chief economist Michael Ricafort traced both the PSEi and the peso's finish to wait-and-see stance on the release on Tuesday of the inflation rate for the second month this year.
He said investors are considering a possible peak for inflation last February following another uptick last January to a new 14-year high of 8.7 percent.
Ricafort said another driver for the equities and foreign currency trading for the day include the correction to two-week high of global oil prices.
But he said the latest level remains lower in nearly 14 months and this could help ease inflationary pressures and narrow the country's trade deficit.
Ricafort forecasts the peso to trade between 54.75-54.75 on Tuesday.
Source: Philippines News Agency
