PSE Index Posts Strong Gain on Bargain Hunting

The Philippine Stock Exchange (PSE) index on Monday posted a strong gain as bargain hunting lifted index heavyweights, pushing the benchmark up 114.18 points, or 2.03%, to 5,743.21, its intraday high.

The Philippine Stock Exchange (PSE) Index, October 5, 2026

Market favorite International Container Terminal Services Inc. (ICTSI) gained 5.23% to ₱905, while market bellwether SM Investments Corp. rose 0.40% to ₱497 and conglomerate Ayala Corp. advanced 1.94% to ₱525.

The gains ended the PSE index's declines over the previous two weeks.

However, muted turnover of just ₱3.74 billion suggested that the rally lacked strong conviction, as sellers appeared reluctant to unload their shares while bargain hunters accumulated stocks that had been heavily sold in previous sessions.

Except for financials, which declined 0.07%, all other sectoral indices posted gains.

Services led the gainers with a 4% increase, followed by property at 1.75%, mining and oil at 1.21%, industrial at 1.28% and holding firms at 1.11%.

Foreign trading activity was also subdued. Foreign transactions totaled ₱3.87 billion, with foreign buying at ₱2.005 billion and selling at ₱1.871 billion, resulting in net foreign buying of ₱134 million.

The market continued to face concerns related to economic conditions, including the weakened peso, elevated inflation and the effects of geopolitical tensions.

Among the gainers were Ayala Land Inc., Manila Electric Co. (Meralco), Metropolitan Bank & Trust Co. (Metrobank), Atlas Consolidated Mining and Development Corp. and Aboitiz Equity Ventures Inc. BDO Unibank Inc. and Bank of the Philippine Islands (BPI) declined amid concerns that higher interest rates could affect bank lending.

Market breadth remained negative despite the index's substantial gain, with 95 decliners against 85 advancers and 77 stocks unchanged.

Among the unchanged shares was newly listed PNB Holdings Corp., which ended at its ₱1.20 offer price.