PSE Index Rebounds on Bargain Hunting Despite Middle East tensions

The Philippine Stock Exchange (PSE) index rebounded on Thursday as investors returned to bargain hunting, closing slightly higher at 6,283.12, up 15.27 points or 0.24%.

The Philippine Stock Exchange (PSE) Index, July 23, 2026

The market appeared to have priced in the impact of renewed geopolitical tensions in the Middle East.

The benchmark index climbed to an intraday high of 6,302.81 before retreating to a low of 6,261.65 as profit-taking erased part of the day's gains.

Among the sectoral indices, financials led the advance, rising 1.20%, followed by holding firms (0.42%), industrial (0.09%), and property (0.08%). Meanwhile, services slipped 0.44% and mining and oil declined 1.10%.

Market favorite ICTSI eased another 0.31% to ₱957, while gaming stock DigiPlus Interactive Corp. fell to a new low of ₱9.89, down 3.04%, weighing on the services sub-index.

Market bellwether SM Investments closed at ₱588.50, up 0.43%, after reaching an intraday high of ₱595.

Construction firm Megawide helped support market sentiment after Megawide Construction Corp. gained 3.16% to ₱4.25 following its declaration of a ₱0.145-per-share cash dividend.

Banking stocks also advanced as bargain hunting intensified. BDO Unibank rose 2.52% to ₱126, while Bank of the Philippine Islands (BPI) gained 0.97% to ₱104.

Despite the recovery, trading activity remained subdued, with total value turnover reaching only ₱5.22 billion.

Foreign trades amounted to ₱5.60 billion, resulting in net foreign selling of ₱76 million, with foreign buying at ₱2.763 billion and foreign selling at ₱2.839 billion.

Market breadth turned positive, with 93 gainers, 85 losers, and 55 unchanged issues.