Share prices are expected to move sideways this week on thin volume amid the shortened trading week.
Financial markets will be closed on Thursday and Friday in observance of the Holy Week.
Analysts said the investors would likely stay on the sidelines as trading volume would likely thin out this week, while the index would likely move sideways or even slightly decline amid lackluster trading.
“With local trading capped to three sessions during the Lenten break, brace for thin volumes as lack of stronger catalysts encourage wait-and-see mode until after Easter,” online brokerage firm 2TradeAsia.com said.
“Third liners and speculatives are set to get the most out of generally fragile sentiment with possible windows for bargain hunting amid the market’s state of flux,” it said.
Investors would also await the release of March inflation rate this week which could provide indication on the Bangko Sentral ng Pilipinas’ next rate path.