The Philippine Stock Exchange index (PSEi) fell by 81.92 points, or 1.28 percent, to 6,333.80 on Tuesday, while the peso weakened by 5.9 centavos to P61.745 per US dollar from Monday’s P61.686, as profit-taking and renewed risk aversion weighed on local financial markets.

The PSEi retreated as investors locked in gains following the market’s recent rally, with renewed geopolitical concerns dampening investor sentiment.

Market turned negative

Market breadth turned negative, with 107 decliners against 91 advancers, while total value turnover reached P7.94 billion across 80,337 trades, reflecting heavier trading activity than the previous session.

Selling pressure was concentrated in the market’s largest index heavyweights, with BDO Unibank (-2.76 percent), International Container Terminal Services (-2.73 percent), PLDT (-2.31 percent) and SM Investments (-1.67 percent) dragging the benchmark lower.

Sector performance was broadly negative, led by Services (-2.50 percent), followed by Financials (-1.10 percent), Holding Firms (-0.82 percent) and Property (-0.49 percent). The Industrial (+1.26 percent) and Mining and Oil (+3.51 percent) sectors were the lone gainers, supported by continued strength in commodity-related counters as global oil prices remained elevated.

Among the day’s actively traded issues, Atlas Consolidated Mining (AT) surged 12.65 percent, while Maynilad Water Services (MYNLD) and Manila Electric Co. (MER) also posted gains, partially offsetting weakness across the broader market.

Peso weakens

The peso likewise weakened against the US dollar, closing at P61.745 from Monday’s P61.686, according to data from the Bankers Association of the Philippines.

The local currency traded between P61.68 and P61.75 during the session, with a weighted average of P61.711 and an FX settlement rate of P61.699.