PSE Index Slips as Meralco Tumbles on System Loss Policy Announcement

The Philippine Stock Exchange (PSE) index declined slightly on Tuesday after another volatile trading session, closing 10.87 points, or 0.17%, lower at 6,304.03.

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

The industrial sector led the decline, falling 1.24%, as Meralco dropped 4.66% to ₱562 following a presidential announcement that electricity system losses will no longer be shouldered by consumers.

Meralco opened at ₱567, climbed to an intraday high of ₱572, then fell to a low of ₱554.50, reflecting volatile trading amid renewed optimism over a possible ceasefire in the Iran conflict.

The property sector was the only other declining sub-index, slipping 0.12% as Ayala Land fell to ₱16.88.

The remaining four sectoral indices posted modest gains and briefly pushed the benchmark to an intraday high of 6,349.00 before it retreated to a low of 6,283.09 and recovered slightly by the close.

Financials rose 0.35%, holding firms gained 0.01%, services increased 0.18%, and mining and oil advanced 0.50%.

Market favorite ICTSI edged up 0.31%, trading between ₱968 and ₱1,008 during the session. It posted ₱2.25 billion in trades, accounting for about one-third of the day's ₱6.66 billion total value turnover.

Meanwhile, market bellwether SM Investments slipped 0.17% to ₱589.

Foreign transactions totaled ₱6.46 billion, resulting in net foreign buying of ₱115 million, with foreign buying reaching ₱3.286 billion and foreign selling totaling ₱3.171 billion.

Market breadth remained negative, with 89 decliners, 78 advancers, and 68 unchanged issues.