Local equities market extended its winning streak to the seventh consecutive session on Thursday, Feb. 26, though a wave of late-session profit-taking pared gains as investors locked in returns from the recent rally.

The Philippine Stock Exchange index (PSEi) edged higher by 5.59 points, or 0.08 percent, to settle at 6,625.46. While the gauge maintained its upward trajectory, the modest finish reflected the cooling of momentum after the index touched an intraday peak of 6,673.61—its highest level since Dec. 12, 2024. The advance was led by the property and mining sectors, which managed to offset weakness in lenders and service providers.

Market activity remained robust, with 849 million shares changing hands valued at ₱8.05 billion. Advancers led decliners 125 to 70, while 74 issues remained unchanged. The sustained turnover suggests that while some market participants are moving to the sidelines, broader buying interest remains intact.

Luis Limlingan, managing director at Regina Capital Development Corp., noted that the market managed to defend its positive territory despite the late-day selling pressure.

The benchmark’s ability to sustain its momentum was underpinned by confluence of supportive factors, including firmer peso and generally upbeat corporate earnings season.

Limlingan noted that improved investor sentiment continues to provide the market with the floor, even as technical resistance triggers occasional pullbacks.

The local bourse also drew strength from external cues, particularly the resilient performance on Wall Street.

Japhet Tantiangco, research manager at Philstocks Financial, said that optimistic expectations for 2025 corporate results are beginning to be priced into the market.

However, he noted that trimming gains at the close indicates caution as the index approaches overbought territory.

Global sentiment played a pivotal role in the day’s price action. Michael Ricafort, chief economist at Rizal Commercial Banking Corp., attributed the early surge to a recovery in international equities.

The “AI scare trade,” which had previously sparked volatility in technology and global growth stocks, showed signs of losing steam, encouraging a rotation back into emerging market assets.

Despite the near-flat finish, the seven-day rally marks one of the longest periods of sustained growth for the PSEi in recent months.

Investors are now looking toward upcoming macroeconomic data and further earnings disclosures to see if the index can break through the 6,700 psychological resistance level.