The Philippine Stock Exchange Index as of March 31, 2021. The Enhanced Community Quarantine (ECQ) in Metro Manila and the nearby provinces of Bulacan, Cavite, Laguna, and Rizal, reimposed by the government to counter the resurging Covid-19 infections, has dampened investor sentiment this week.

The Philippine Stock Exchange Index (PSEi) closed the last trading day of March and first quarter of 2021 at 6,643, down 1.6% both for the day and for the week. The index is now down 9.8% on a year-to-date basis.

Month-end window dressing failed to prop up the market, which will be closed on Thursday (April 1) and Friday (April 2) in observance of the Maundy Thursday and Good Friday religious holidays.

Sector indices are all in the red, with the Property sector tanking the most at -2.06%, followed by Financials (-1.82%), and Holding Firms (-1.24%). Declines outnumber advances 113 to 97 while there are 50 unchanged stocks.

The PSEi is now at the Relative Strength Index (RSI) of 37.4, indicating bearishness, and approaching the oversold level of 30.0.

The 50-day moving average is at 6,811, more than 300 notches above the current index level of 6,443.

Immediate resistance is at 6,608 while immediate support is at 6,381.

The next trading day will be on Monday, April 4, 2021.

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