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Richmond Mercurio - The Philippine Star
April 28, 2026 | 12:00am
The benchmark Philippines Stock Exchange index shed 0.71 percent or 42.34 points to end the session at 5,901.15.
Businessworld / File
MANILA, Philippines — The local stock market kicked off the week on a sour note, extending its losing streak to four sessions as concerns over rising inflationary pressures kept investors on the sidelines.
The benchmark Philippines Stock Exchange index shed 0.71 percent or 42.34 points to end the session at 5,901.15.
The broader All Shares index likewise declined by 0.51 percent or 17.09 points, closing at 3,335.13.
Luis Limlingan of Regina Capital said market sentiment remained cautious amid continued peso depreciation and renewed increases in crude oil prices.
Limlingan said these developments fueled concerns over rising inflationary pressures, prompting fears of possible additional rate hikes by the Bangko Sentral ng Pilipinas.
“As a result, investors stayed on the sidelines, weighing macroeconomic risks against near-term growth prospects,” Limlingan said.
RCBC chief economist Michael Ricafort said the PSEi declined for the fourth straight trading day after some of the country’s biggest companies reduced capital expenditures to prepare for slower consumer spending.
Ricafort also cited possible increase in non-performing loans as triggered by the sharp increase in global petroleum prices that could lead to higher prices of other affected goods and services, resulting in reduced disposable incomes.
Sectoral gauges were a mixed bag, with mining and oil posting the highest jump at 1.96 percent, while holding firms incurred the biggest drop at 1.74 percent.
Total turnover value amounted to P5.36 billion.
Market breadth was negative as decliners crushed advancers, 107 to 86, while 56 issues were unchanged.
BDO Unibank was the session’s most actively traded stock, plunging by 2.61 percent to P112 per share. It was followed by BPI ,which fell by 1.74 percent to P90.50, and ICTSI, which increased by 0.28 percent to P712.
