Iran Crisis Rattles Market

The Philippine Stock Exchange (PSE) index tumbled in a market sell-off unseen in a year, cratering to an intraday low of 6,247.98 points.

The Philippine Stock Exchange (PSE) Index, March 4, 2026

Bargain hunters later stepped in, nudging the index to close at 6,307—down 137.54 points, or 2.13 percent.

Market breadth was bearish as a prolonged Iran crisis loomed, along with the prospect of oil-driven inflation following the closure of the Strait of Hormuz. Losers outnumbered gainers by five to one, 179 to 35, with all sectors in the red.

Even gold stocks lost their sheen, as Apex Mining shed 6.32 percent to P16 and Philex Mining retreated by nearly a tenth to P10.80.

Foreign investors were net sellers to the tune of P1.308 billion amid sell-offs in many blue chips.

Market bellwether SM Investments fell 2.14 percent to P685, while DigiPlus was unable to withstand the selling pressure—even with buying support from its major shareholder—closing 8.33 percent lower at P16.94.

ICTSI was the lone gainer among the top 10 most active shares, as investors see the company weathering the Iran crisis.

It posted a 0.85 percent increase to P715. Market pundits expect further declines in the index as the inflation outlook worsens due to rising oil prices.