Stocks end winning streak on profit taking

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July 22, 2026 | 12:00am

MANILA, Philippines — The local stock market ended in the red territory as investors decided to pocket gains after a four-day rally.

The benchmark Philippine Stock Exchange index (PSEi) fell by 1.28 percent or 81.92 points to close at 6,333.80.

Likewise, the broader All Shares index slipped by 0.32 percent to 11.11 points to settle at 3,439.58.

Luis Limlingan of Regina Capital said the pullback was viewed as a healthy correction as the market neared overbought territory.

“The local bourse ended lower as investors took profits after a four-day winning streak, with the benchmark index still looking for catalysts to stabilize above the 6,400 level,” he said.

Limlingan said sentiment was also weighed down by the peso’s depreciation against the dollar and the threat of the sharp increase in local oil prices.

AB Capital Securities said the PSEi went as high as plus one percent during the morning session, as ICTSI reached a new all-time high (intraday) of P1,049.

“At the start of the afternoon session, PSE announced sweeping index methodology changes (effective February 2027), triggering investors to reposition themselves. PSEi then closed at the low of the day, giving up the last two sessions’ 6,400 breakout,” it said.

Sectors were a mixed bag with mining and oil recording the highest jump at 3.51 percent, while services posted the biggest drop at 2.5 percent.

Total value turnover improved to P7.94 billion from the previous day’s P6.69 billion.

Decliners squashed advancers, 107 to 91, while 52 issues did not change hands.

ICTSI was the most actively traded stock, plunging by 2.73 percent to P999 per share, followed by BDO Unibank and SM Investments, which shed 2.76 percent and 1.67 percent, respectively, to P123.30 and P588.