PSE Index Slips Below 6,000 as Oil Price Fears Weigh on Market

The Philippine Stock Exchange (PSE) index fell to 5,989.56 points, down 29.14 points or 0.48%, as economic concerns tied to the Iran crisis dampened investor sentiment.

The Philippine Stock Exchange (PSE) Index, April 22, 2026

Investors sold off holdings amid fears that even if local fuel prices decline, the broader economy will remain vulnerable to elevated global oil prices driven by the crisis.

Value turnover was muted at ₱5.9 billion, with all sectors posting losses except for services. Market favorite International Container Terminal Services Inc. lifted the services sector with a 0.56% gain.

Rising oil prices weighed on key stocks, including Jollibee Foods Corporation, which fell 1.23% to ₱160, as well as Apex Mining and BDO Unibank.

Conglomerates posted the biggest decline at 1.04%, reflecting concerns over broader economic headwinds. Financials, industrials, mining and oil, and property sectors also declined.

The market opened strong and reached an intraday high of 6,051.25 points before falling to a low of 5,969.14 points.

Market breadth was negative, with 105 decliners against 83 advancers, while foreign investors were net sellers, offloading ₱497 million worth of shares.