The Philippine Stock Exchange Index (PSEi) surrendered part of Monday’s outsized gains, closing 27.13 points lower, or 0.43 percent, at 6,245.75 on Tuesday, while the peso strengthened further to P60.32 per US dollar from P60.48 in the previous session.
Investors locked in profits following the market’s strongest rally of the year. Despite the pullback, the benchmark remained comfortably above the key 6,150 support level after touching an intraday high of 6,396.23, suggesting that underlying bullish sentiment remains intact.
Trading activity remained healthy, with value turnover reaching P7.73 billion. Foreign investors continued to support the market, posting net inflows of P939.97 million.
Mixed sector performance
Sector performance was mixed. Mining & Oil led the gainers, rising 2.67 percent as commodity-related stocks benefited from elevated energy and metals prices. Financials, meanwhile, declined 1.58 percent as investors took profits in banking shares following Monday’s sharp advance.
Among index constituents, Century Pacific Food Inc. (CNPF) led the gainers, rising 4.35 percent to P30.00, while AREIT Inc. (AREIT) was the biggest laggard, falling 5.45 percent to P36.40.
Meanwhile, the peso extended its recent rally, appreciating by 16 centavos, or about 0.26 percent, to P60.32 per US dollar — its strongest level in several months.
According to data from the Bankers Association of the Philippines, the peso traded between P60.295 and P60.50 during the session, while total foreign exchange turnover rose to US$2.51 billion from US$1.68 billion the previous day, reflecting robust market participation.
