THE Philippine Stock Exchange index (PSEi) gained 7.22 points, or 0.12 percent, on Friday to close at 6,263.39 despite the rally of the US Dow Jones and other markets overnight.

Claire Alviar, research associate at Philstocks Financial Inc., noted the market did not have any direction as investors were on the sidelines waiting for major developments next week, including President Ferdinand 'Bongbong' Marcos Jr.'s first State of the Nation Address slated on Monday, July 25, 2022, and the US Federal Reserve Open Market Committee meeting on Wednesday, July 27, 2022.