The PSE market closed on a positive sentiment with +0.42% gain for the day. A lot of traders and investors are still bullish on the current news regarding the re-opening of the economy where Metro Manila will start to shift to Alert level 3 by October 16, 2021. Government is also optimistic that its could reach its target of 4-5% GDP as we catch up with looser restrictions implemented for the last quarter of the year. In addition the US market was upbeat also yesterday which could have contributed on the more optimistic market sentiment.

The index closed at 7,213.46 and continues its upward movement. Net foreign buying was also present at 274.53Million

For the Blue chip Index, ICT (5.80%) finally rebounded after continued sell off for the past few days. On the loser side, there was a profit taking on Globe Telecom (-3.88%) and ACEN (-3.25%)

Gainers	Losers
1ICT5.80%	1GLO-3.88%
2BDO3.13%	2ACEN-3.25%
3AP2.76%	3BLOOM-2.77%
4AEV2.32%	4RRHI-2.70%
5AGI2.14%	5SECB-1.72%
6MPI1.79%	6JGS-1.11%
7TEL1.78%	7CNVRG-1.09%
8WLCON1.55%	8SM-0.90%
9MER1.36%	9BPI-0.58%
10URC0.76%	10PGOLD-0.23%
11AC0.70%	11LTG-0.20%
12GTCAP0.70%

For the index sector, mining sector was the best performer (2.08%) followed by Services sector (1.07%)

On the Global side, US stocks rallied yesterday with Dow Jones closing at +1.56%.

Symbol	Name	Last Price	Change	% Change
^GSPC	S&P 500	4,438.26	74.46	1.71%
^DJI	Dow Jones Industrial Average	34,912.56	534.75	1.56%
^IXIC	NASDAQ Composite	14,823.43	251.79	1.73%

The PSE market have a good head start during early trading and managed to break out from its short term consolidation closing at 1.62% with intraday high passing 1.7%. A slew of good news yesterday provided the needed catalyst to move high for today. The government finally lifted Alert level 4 in Metro Manila from October 16-31, 2021, going to much less stringent Alert level 3 as the IATF accepted the proposal. In addition the daily covid cases seem to drop more significantly to 7,000 level its first time in months after going as high as 20,000 daily cases.

The index closed at 7,183.11 with a net foreign buying of 191.1Million.

For the Blue chips index, the gaming sector led the group, BLOOM gaining as much as 7.08%. Losers led by ACEN (-3.74%) as profit taking continued.

Gainers	Losers
1BLOOM7.08%	1ACEN-3.47%
2JFC6.39%	2ICT-3.09%
3RRHI5.88%	3BDO-1.77%
4GLO4.75%	4RLC-0.50%
5GTCAP4.18%	5TEL-0.18%
6SECB3.65%
7AC3.02%
8AP2.83%
9JGS2.76%
10LTG2.57%
11SM2.56%
12ALI2.51%
13MPI2.08%
14MER2.08%
15SMPH1.96%
16PGOLD1.90%
17WLCON1.75%
18URC1.69%

Index sector showed that Holding (2.28%) and Property (2.00%) companies are the gainers of the day .

Metro Manila transitions to Alert Level 3 by October 16

Alert level for Metro Manila lowered as per press briefing done yesterday by Spokesperson Harry Roque.  The Palace placed Metro Manila’s alert level to 3 (from 4) from 16-31 Oct.  The downgraded alert level allows restaurants to accept customers at 30% capacity & up to 40% if they have a government-issued Safety Seal. This have resulted to optimism in the market as more businesses would soon be open.

The same applies to facilities that have enclose areas like those in barbershops and salons.  Gyms, tourist attractions, libraries, museums, casinos, cockfighting, concerts, parties, receptions, family reunions are allowed at 30% venue capacity & up to 40% for those with Safety Seal. This would be good for the economy.