Bargain Hunting Lifts PSE Index 1.05% Despite Weak Market Breadth

Bargain hunting lifted the Philippine Stock Exchange (PSE) index on Wednesday, with the benchmark closing at its intraday high of 5,736.69, up 59.57 points, or 1.05 percent.

The Philippine Stock Exchange (PSE) Index, October 7, 2026

However, market activity remained subdued, while market breadth stayed negative, with decliners outnumbering advancers.

Five of the six sectoral indices gained, led by mining and oil, which advanced 1.63 percent.

Financials rose 1.31 percent, holding firms gained 1.44 percent, services increased 0.54 percent, and property climbed 1.31 percent. Industrial stocks were the lone decliners, falling 0.32 percent.

International Container Terminal Services Inc. (ICTSI), one of the market's most actively traded stocks, gained 0.51 percent to ₱894.50, with trading value of about ₱1.09 billion.

The stock traded as high as ₱909 and as low as ₱888.50 during the session.

SM Investments Corp. rose 3.28 percent to ₱516, while Ayala Land Inc. gained 0.52 percent to ₱15.40.

Other gainers included Meralco, PLDT, Nickel Asia and Apex Mining.

Total market value turnover was about ₱4.94 billion, according to Philippine Stock Exchange data.

There were 80 advancers, 100 decliners and 68 unchanged issues. The market's gain came despite the continued negative breadth, suggesting that gains in several large-cap stocks helped lift the benchmark.

Investors also continued to monitor developments affecting inflation, interest rates, the peso and energy prices.

The Philippine economy could face additional pressure from the strengthening El Niño, which the Philippine Atmospheric, Geophysical and Astronomical Services Administration said is expected to intensify into a very strong event and persist into the first half of 2027.