PSE Index Falls to 5,866 as Global Tensions Weigh on Market

The Philippine Stock Exchange (PSE) index declined further, closing lower at 5,866.79 points, down by 34.36 points or 0.58 percent.

The Philippine Stock Exchange (PSE) Index, April 28, 2026

Market confidence weakened significantly, with the index hitting an intraday low of 5,833.92 points before bargain hunting allowed a slight recovery.

Investor sentiment remained dampened amid uncertainty linked to tensions surrounding the Strait of Hormuz, contributing to a subdued market environment.

Market breadth turned negative, with decliners nearly doubling advancers, 117 to 68, while 58 issues remained unchanged, reflecting cautious trading amid ongoing Middle East tensions.

Conglomerates led the losses. Ayala Corp., which topped trading with ₱1.2 billion in turnover, slipped by 0.13 percent to ₱472.40 following its property subsidiary’s announcement of a stop to a high-end development project.

Market bellwether SM Investments provided a modest boost, rising 1.06 percent to ₱620 after a ₱617-million block sale at ₱617 per share.

Total value turnover reached ₱8.03 billion, while foreign trades amounted to ₱878 million.

Net foreign selling stood at ₱878 million, indicating continued negative sentiment among foreign investors.

The market is seen searching for a bottom as uncertainty persists over developments in the Strait of Hormuz, through which about 20 percent of the world’s crude oil supply passes.