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Manila Bulletin devider Business devider The Stock Market devider PSEi halts slide with cautious bargain hunting

PSEi halts slide with cautious bargain hunting

Published Jul 23, 2026 05:33 pm
The Philippine Stock Exchange index (PSEi) was slightly higher on Thursday, July 23, as some investors started bargain hunting despite rising oil prices because of the United States (US)-Iran war.
The main index added 15.27 points, or 0.24 percent, to close at 6,283.12. Banks led the advance, while mining and services declined.
Volume dropped to 587 million shares worth ₱5.23 billion. Gainers outnumbered losers—93 to 85, with 59 unchanged.
“The PSEi ended higher as the market saw bargain hunting following two consecutive sessions of declines. Investors took advantage of lower valuations, leading to renewed buying interest across selected sectors,” said Regina Capital Development Corp. managing director Luis Limlingan.
The rebound reflected improved sentiment as investors selectively accumulated stocks at more attractive price level.
Philstocks Financial Inc. research manager Japhet Tantiangco said though that sentiment remains cautious as reflected by the market’s thin value turnovers, while the PSEi’s market breadth is negative with gainers at 13 and losers at 17. Foreigners were also net sellers with net outflows at ₱76.61 million.
“The cautious backdrop is attributed to the downside risks caused by the US-Iran war including the rise in global prices and the weakening of the peso against the US dollar,” he noted.
Rizal Commercial Banking Corp. chief economist Michael Ricafort said the PSEi was slightly higher after declining for two straight trading days amid the relatively stable exchange rate.

Related Tags

Philippine Stock Exchange Regina Capital Development Corporation Luis Limlingan Philstocks Financial Japhet Tantiangco Rizal Commercial Banking Corporation Michael L. Ricafort
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