Also, market sentiment received a boost from Wall Street's positive performance over the weekend.The benchmark Philippine Stock Exchange index rose 25.87 points, or 0.38 percent, to close at 6,923.41, breaching the crucial 6,900-point resistance level.The broader All Shares index added 8.60 points, or 0.23 percent, to 3,751.41.'Expectations that inflation had declined last August compared to July's 4.4 percent drove market sentiment,' Philstocks Financial Inc.
'He said stocks 'got off to a lukewarm start for September,' with several private and public institutions suspending work due to heavy rains.Nonetheless, he noted sentiment 'also got a boost from the US, which saw their equity markets close in the green over the weekend.'Sectors were mixed, with holding firms leading gainers, closing up 1.27 percent, while mining and oil were the biggest losers, down 2.28 percent.