The local stock market continued its upward trend on Thursday, with the main index closing higher for a fifth consecutive session. Investors remained in a buying mood, drawing confidence from the slower-than-expected inflation rate in June, as reported by Philstar Biz.
The Philippine Stock Exchange index (PSEi) gained 0.8% to close at 7,450.21, while the broader All Shares index rose 0.6%. Market breadth was positive, with advancers outpacing decliners 112 to 76. Total value turnover reached PHP 8.2 billion.
Analysts attributed the rally to easing inflation fears, which boosted sentiment across sectors. The June inflation rate came in at 3.2%, lower than the 3.5% forecast, reinforcing expectations that the central bank may hold interest rates steady in the near term.