PSE Index Climbs Above 6,100, but Investor Caution Persists

The Philippine Stock Exchange (PSE) index rose by 61.17 points, or 1.01 percent, on Monday to close at 6,133.41. Despite the gain, market sentiment remained cautious.

The Philippine Stock Exchange (PSE) Index, June 29, 2026

Financials led the advance, rising 1.85 percent, followed by holding firms at 1.15 percent, services at 0.93 percent, and industrials at 0.64 percent.

However, market value turnover reached only P5.16 billion, below the recent average, suggesting that the rally was driven primarily by bargain hunting rather than renewed investor confidence.

Mining and oil fell 1.53 percent, while the property sector slipped 0.26 percent amid concerns over excess condominium inventory and uncertainty surrounding the country's economic outlook.

Global port operator ICTSI remained the most actively traded stock, with P890 million worth of shares changing hands.

The stock gained 0.56 percent to close at P890.

Market bellwether SM Investments Corp. rose 1.76 percent to finish at P607, its intraday high, after trading as low as P593.50 during the session.

Telecommunications and gaming stocks also posted gains, although these were largely attributed to bargain hunting. Banking shares likewise advanced as investors accumulated stocks trading at relatively lower prices.

Meanwhile, Meralco and Maynilad declined, losing some of their appeal as defensive plays amid concerns over the domestic economy.

Investors also continued to watch expectations that the Bangko Sentral ng Pilipinas (BSP) could raise interest rates further, a move that may result in mark-to-market losses on banks' bond portfolios.

Foreign investors were net buyers by P311 million, with foreign buying amounting to P2.853 billion and foreign selling totaling P2.542 billion. Overall foreign participation, however, remained subdued.

Market breadth was positive, with 96 gainers, 75 losers, and the rest unchanged, although uncertainty continued to weigh on overall investor sentiment.