PSE Index Plunges 1.70% as Peso Hits Record Low, Oil Prices Rise

The Philippine Stock Exchange (PSE) index plunged 106.36 points, or 1.70%, to 6,158.34 points on Wednesday as the peso weakened, oil prices rose and inflation concerns intensified.

The Philippine Stock Exchange (PSE) Index, April , 2026

All sub-indices posted losses, with some blue-chip stocks falling to new one-year lows as investors dumped their holdings amid the peso's slide to a record low of ₱61.995 to the U.S. dollar, rising crude oil prices and a shift by foreign funds toward U.S. Treasuries.

Market bellwether SM Investments fell to an intraday low and its lowest level of the year at ₱556 before recovering to ₱568, still down 2.07% for the session.

Ayala Land also hit a yearly low of ₱15.16 before climbing to ₱15.30, down 2.05%.

The property sub-index, however, posted a marginal 0.08% decline, cushioned by a 0.99% gain in SM Prime, which closed at ₱18.30 as bargain hunters moved in.

Services suffered the biggest loss, falling 2.68%, as market favorite ICTSI retreated to ₱930, down 3.38%. The decline was partly offset by an 8.82% gain in Bloomberg, which closed at ₱2.59.

Financials fell 1.07%, industrials declined 1.64%, and holding firms dropped 1.33%. Mining and oil also fell sharply, losing 2.60%.

Value turnover remained below average at ₱5.77 billion, while foreign trades amounted to ₱5.10 billion. There was net foreign selling of ₱865 million, with foreign investors buying ₱2.157 billion and selling ₱3.023 billion.

Market breadth was negative, with 119 losers, 74 gainers and 54 unchanged stocks.

After the sharp decline, the market could see a technical rebound, particularly as some blue-chip stocks have fallen substantially from recent levels.