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PSE Index Declines Further
- By The Financial District
- Apr 24
- 1 min read
The Philippine Stock Exchange (PSE) index fell further today, dropping 40.22 points or 0.67% to close at 5,943.49, as investor sentiment weakened amid global economic concerns.
Blue-chip stocks declined sharply, reflecting worries over the economic impact of rising oil prices linked to tensions involving Iran.
The industrial sector was the lone gainer, supported by a 0.55% increase in Manila Electric Company shares to ₱641. Even traditionally defensive stocks posted losses, underscoring the broadly bearish sentiment as investors brace for potential economic slowdown.
Market participants are increasingly concerned about weaker GDP growth prospects, even in the event of a possible de-escalation involving Iran, due to damage to energy infrastructure.
Value turnover remained subdued at ₱5.5 billion. Market breadth was negative, with 110 decliners against 80 advancers.
Among notable stocks, SM Investments Corporation rose 0.32% to ₱629, while International Container Terminal Services Inc. ended flat at ₱710. Foreign investors were net sellers, with outflows reaching ₱628 million, reflecting continued caution in the local market.
