PSEi snaps out of 2-day slide
Local stocks rebounded on Tuesday as bargain hunters stepped in after two consecutive days of decline.
The benchmark Philippine Stock Exchange Index (PSEi) gained 0.3 percent, or 18.55 points, to close at 6,445.38.
Michael Ricafort, chief economist at Rizal Commercial Banking Corp., said the index rebounded from an intraday low of 6,421.44.
“Tuesday’s close lifted the PSEi from new one-week lows, or levels last seen on Feb. 20. Despite the pullback, the benchmark remains among its highest levels in more than seven months, or since July 23, 2025,” Ricafort said.
Philstocks financial research manager Japhet Tantiagco said the recovery came after a steep drop in the previous session, with investors taking advantage of lower valuations.
Trading, however, thinned. Net value turnover slipped to P6.93 billion, below the prior day’s P7.5 billion, reflecting cautious participation.
Foreign funds provided support, registering net inflows of P1.57 billion, which helped lift the market.
Sectoral performance was largely negative. Only the services index finished in positive territory, climbing 3.03 percent.
The rest ended in the red, led by the mining and oil counter, which fell 2.24 percent.
Market breadth remained weak as decliners outnumbered advancers, 117 to 83.
Among index members, DigiPlus Interactive Corp. emerged as the top gainer, surging 10.66 percent to P18.48. The rally followed news of an additional stake acquired by its chair, Eusebio Tanco, signaling confidence in the company’s prospects.
On the other hand, Century Pacific Food Inc. was the session’s main index laggard, dropping 3.25 percent to P37.25.
