PSE Index Surges 2.31% on Bargain Hunting

The Philippine Stock Exchange (PSE) index surged Tuesday on pronounced bargain hunting, rising more than two levels before paring its gains but still posting a hefty 137.56-point, or 2.31%, increase to 6,093.89 points.

The Philippine Stock Exchange (PSE) Index, September 1, 2026

Investors bought oversold blue-chip stocks as optimism associated with the start of the “ber” months lifted sentiment. The index opened at 6,122.32 points and rose another 26 points to reach an intraday high before retreating toward the close.

The sub-indices closed mixed, with services rising 5.45%, financials gaining 3.26% and holding firms advancing 0.26%.

Mining and oil fell 1.20%, while industrials and property declined 1.10% and 0.08%, respectively.

Market favorite International Container Terminal Services Inc. (ICTSI) was the most actively traded stock, with ₱2.51 billion in turnover, as it surged 7.34% to ₱950. The stock traded as high as ₱960 and as low as ₱919.50 during the session.

DigiPlus Interactive Corp. also gained 7.91%, while telecommunications stocks PLDT Inc., Globe Telecom Inc. and Converge ICT Solutions Inc. posted losses.

Market bellwether SM Investments Corp. rose 0.45% to ₱557.50, while Manila Electric Co. (Meralco) declined further, falling 4.61% to ₱438.80, its intraday low, amid concerns over a policy shift involving system losses.

BDO Unibank Inc. and Bank of the Philippine Islands (BPI) advanced 4.83% to ₱121.60 and 5.50% to ₱105.50, respectively.

Ayala Land Inc. again posted a 3.35% decline to ₱15.02 despite a reported 20-million-share purchase by parent company Ayala Corp. at ₱15.54 a share.

Value turnover amounted to ₱10.4 billion, while foreign transactions reached ₱13.87 billion as investors traded on both sides of the market. Foreign investors recorded net selling of ₱92.5 million, with ₱6.892 billion in purchases and ₱6.985 billion in sales.

Market breadth was positive, with 106 gainers, 88 losers and 64 unchanged issues.

Traders said the start of the “ber” months had brought renewed optimism to the market, with second-liners such as Megawide Construction Corp. attracting attention.

Megawide closed 3.77% higher after reaching a year-to-date high of ₱5.