PSE Index Tumbles as Middle East Tensions Spark Profit-taking

The Philippine Stock Exchange (PSE) index fell sharply Tuesday amid renewed concerns over the economy and the resumption of hostilities in the Middle East, closing at its intraday low of 6,333.80, down 81.92 points or 1.28%.

The Philippine Stock Exchange (PSE) Index, July 21, 2026

The market opened strongly and climbed to an intraday high of 6,488.35 before investors took profits, erasing early gains.

The mining and oil sub-index surged 3.51% as investors speculated on higher gold prices following the latest escalation in the Middle East. The industrial sub-index also advanced, helped by Meralco, which gained 1.19% to ₱595.

Atlas Mining climbed another 12.65% to ₱11.58 after the company disclosed strong earnings, boosted by higher metal prices.

Market favorite ICTSI declined 2.73% to ₱999 on profit-taking, with trades totaling ₱2.6 billion. Jollibee Foods gained 0.54% to ₱147.90, while market bellwether SM Investments fell 1.67% to ₱568.

Total value turnover reached ₱7.9 billion, about one-third higher than the daily average. Foreign trades amounted to ₱8.63 billion, resulting in net foreign selling of ₱317 million, with foreign buying at ₱4.159 billion and foreign selling at ₱4.472 billion.

Market breadth was negative, with 107 losers, 91 gainers, and 52 unchanged issues.