PSE Index Makes Surprise Gain Amid Iran Crisis

Bargain hunters pushed the Philippine Stock Exchange (PSE) index to a surprise gain despite the Iran crisis, although selective buying prevailed as the market closed 19.46 points higher, or 0.32 percent, at 6,026.01.

The Philippine Stock Exchange (PSE) Index, March 17, 2026

Market favorite ICTSI led the rise, gaining 1.29 percent to P704 and steering the services sector to a 1.03 percent upswing.

Financials and property posted losses as investors turned selective.

Jollibee Foods rose 2.53 percent, while Petron fell 4.90 percent to P3.30 due to profit-taking. The index had a volatile session, dropping to 6,014.52 before climbing to an intraday high of 6,073.10.

Market breadth was neutral, with 92 gainers, 95 losers, and 53 unchanged, as investors weighed the possibility of a cessation of hostilities in the Middle East.

One optimistic note was the passage of oil tankers bound for China, a small window of opportunity that could be replicated in reopening the Strait of Hormuz, a transit point for one-fifth of global oil trade.

Foreign investors, however, remained cautious as they continued to be net sellers amounting to P563 million, out of total foreign transactions of P7.6 billion, slightly higher than the overall market turnover of P7.26 billion.

Market bellwethers SM Investments and BDO Unibank were both unchanged, indicating tentative investor sentiment amid the ongoing Iran crisis.

Investors are watching the next four days closely, as continued geopolitical tensions could weigh heavily on markets, with rising oil prices potentially triggering an inflationary spiral globally.