PSE Index Falls Below 6,000 as ICTSI Sell-Off Weighs on Market

The Philippine Stock Exchange (PSE) index declined on Wednesday as a sharp drop in shares of International Container Terminal Services Inc. (ICTSI) weighed heavily on the market.

The Philippine Stock Exchange (PSE) Index, June 24 2026

The benchmark index closed at 5,991.37, down 134.85 points or 2.20 percent.

The services sector posted the steepest decline, falling 4.22 percent after ICTSI, a market favorite, plunged to an intraday low of P851.

The stock ended the session down 5.97 percent and generated trading value of P1.83 billion.

The market initially traded higher, with ICTSI reaching an intraday high of P918 before reversing course and leading the broader sell-off.

The PSE index likewise climbed to an intraday high of 6,142.44 before profit-taking erased gains and dragged other blue-chip stocks lower.

Market sentiment was also affected by concerns over higher interest rates following remarks from the Bangko Sentral ng Pilipinas (BSP) regarding efforts to combat inflation.

The peso weakened to P61 against the US dollar, adding to investor caution. SM Investments Corp., a market bellwether, traded between a high of P601 and a low of P593 before closing lower by 3.31 percent.

Banking stocks also came under pressure, with BDO Unibank Inc. and Metropolitan Bank & Trust Co. posting losses that pulled the financial sector down by 3.09 percent.

Other sectors likewise ended lower. Industrials fell 0.62 percent, holding firms declined 0.25 percent, and mining and oil slipped 0.84 percent. Apex Mining Co. dropped 3.31 percent to P14.02 after trading between P13.90 and P14.40 during the session.

Property was the lone advancing sector, rising 0.53 percent.

Ayala Land Inc. led the gainers, climbing 5.11 percent to P14.80 on bargain-hunting activity. Total market turnover reached P10.3 billion. Market breadth remained negative, with 104 decliners, 67 advancers, and 63 unchanged issues.