After nearly a week of relentless losses, the Philippine Stock Exchange Index (PSEi) finally found its footing on Friday as local investors swooped in to grab undervalued stocks, halting a six-session slide fueled by global trade tensions.
The benchmark index climbed 53.40 points, or 0.85 percent, to close at 6,306.13, breaking through a wave of pessimism that had dragged it below the psychological 6,300 level. The broader All Shares Index followed suit, gaining 14.76 points or 0.39 percent to finish at 3,751.67.
Total turnover reached 1.3 billion shares, with value traded amounting to P5.6 billion. Despite the rebound, foreign investors remained cautious, registering net outflows of P54.3 million for the day.
According to Japhet Tantiangco, research head at Philstocks Financial Inc., the market’s recovery was largely driven by bargain hunters seizing the opportunity after several days of steep declines. “Valuations became attractive to local participants, prompting selective buying especially among blue-chip stocks,” he said.
Among the top movers were heavyweight conglomerates. SM Investments Corp. rose 2.21 percent to P834, while JG Summit Holdings Inc. surged 5.24 percent to P22.10. Their performance helped lift overall market sentiment.
DigiPlus Interactive Corp. emerged as the day’s most actively traded stock, soaring 8.33 percent to P27.30 per share. Other notable gainers included BDO Unibank Inc. (up 0.21 percent to P143), SM Prime Holdings Inc. (up 0.43 percent to P23.30), Bank of the Philippine Islands (up 1.95 percent to P120.50), and International Container Terminal Services Inc. (up 1.56 percent to P455).
Still, the rally was not without its laggards. Converge ICT Solutions Inc. dropped 4.36 percent to P17.10, Metropolitan Bank and Trust Co. fell 2.02 percent to P72.70, while Ayala Land Inc. inched up 0.8 percent to P25.20.
By day’s end, market breadth was slightly positive, with 99 gainers edging out 91 losers, while 50 stocks were unchanged.
While Friday’s uptick brings a temporary sigh of relief, analysts remain cautious. With global economic uncertainty still looming—particularly in relation to trade disputes—market watchers say sustained recovery will depend on both external developments and local economic cues in the coming weeks.