Broad selloff sends PSEi plunging nearly 3% on peso weakness and inflation fears (Mar 03, 2026)
PSEi closed at 6,426.83, down 2.79%, driven by heavy net foreign selling of -P11.52M. The Services sector fell 4.11%, with AC and ICT among top losers. See more on focus stocks AGI, ICT, PNB in our report.
Market Snapshot
Market & Dividend Calendar
Sources: Investing.com, PSE Edge
Broad selloff sends PSEi plunging nearly 3% on peso weakness and inflation fears
Local stocks extended losses on Tuesday, with the PSEi shedding 2.79% to close at 6,426.83. Mining And Oil was the only sector in positive territory, up 0.1%, amidst a negative market breadth of 53 gainers versus 159 decliners and a net foreign outflow of -11.52M. The Philippine peso concluded the session at 58.12 against the US dollar.
Index and Sectors
PSEi 1-Year Chart
The PSEi is in a short-term downtrend/pullback, with price at 6,426.83 trading below the 10d SMA (6,495.55) and 20d SMA (6,448.94). However, the medium-term trend remains upward, as price is above the rising 50d SMA (6,328.32), and the 20d SMA (6,448.94) is still above the 50d SMA. The RSI is at 49.89, below 50 and its 20-day MA (59.32), with both the RSI and RSI-MA clearly sloping down.
PSE Heatmap
Decliners significantly outpaced advancers, reflecting broad negative performance concentrated across most sectors, particularly Holding Firms and Services, though Mining And Oil showed some positive clustering. Large cap stocks like AC recorded a -6.17% decline and ICT fell by -5.29%, while PCOR notably advanced +9.61%.
Daily Movers
Highly Viewed Disclosures
Global Markets & Macro
Global Equities Retreat as Oil Shock Revives Inflation Fears, VIX Surges
Global equities broadly retreated as an oil shock revived inflation fears, pushing the VIX up 7.96% to 21.44. Germany's DAX plunged 2.56%, leading widespread European and Asian declines, including Thailand's 4.04% drop and the Hang Seng's 2.14% fall. US markets showed divergence; while the Russell 2000 gained 0.90%, the Dow Jones slipped 0.15%, with the Nasdaq 100 and S&P500 ending barely positive.
Crude Oil Jumps Over 5% on Supply Concerns; Aluminum Rises, Copper Retreats
WTI crude surged 5.37% to US$70.62/bbl, fueled by US-Israel strikes on Iran that revived global inflation fears and supply squeeze concerns for economies like China. Natural Gas also climbed 4.30% to US$2.98/MMBtu. Industrial bellwether Aluminum rallied 3.23% to US$3,142.50/mt, while Copper slipped 0.62% to US$5.97/lb, indicating diverging global industrial demand.
Gold Surges Past $5,300/oz as Silver Retreats Sharply
Gold surged 2.20% to US$5,345.60/oz, adding US$115.10, indicating a strong specific bid for the precious metal. In contrast, Silver diverged significantly, retreating 3.06% or US$2.84 to settle at US$89.85/oz. This sharp divergence suggests gold's rally is primarily driven by safe-haven demand or evolving real rate expectations, rather than broad-based commodity strength or industrial demand.
Global Indices & Commodities
Stocks in Focus
Price at ₱8.76 maintains a short-term uptrend with the 10d SMA at ₱8.65 above the 20d SMA at ₱8.50, and holds a medium-term uptrend above its 50d SMA at ₱8.00. RSI(14) at 64.87 reflects bullish momentum, remaining above 50 and its 20-period moving average at 62.19, with the RSI-MA clearly rising despite the session's below-average RVol of 0.49. The stock is challenging minor resistance at ₱8.89, having bounced from immediate support at ₱8.70, suggesting a period of tight range consolidation. A break above ₱8.89 on increased volume could target the medium-term objective of ₱9.74, with invalidation below the 10d SMA at ₱8.65.
Price at ₱680.00 trades in a short-term transition between the 10d SMA (₱689.6) and 20d SMA (₱675.8), though a medium-term uptrend persists with 20d SMA (₱675.8) above 50d SMA (₱631.5). RSI(14) at 53.29 signals bearish momentum, below its 20-period moving average of 60.26 with both lines clearly falling; strong red volume (3.06M) confirms selling. The -5.29% decline tested ₱679.00 support, extending the pullback and establishing resistance at ₱689.65. A breakdown below ₱679.00 invalidates a rebound; conversely, a hold targets ₱689.65, with the broader objective at ₱1,027.32.
Price at ₱62.25 is in a short-term downtrend, below its 10d (₱63.85) and 20d (₱62.86) SMAs, yet holds a medium-term uptrend above the 50d SMA at ₱59.79. Momentum is bearish with RSI(14) at 49.54 sitting below its clearly down-sloping RSI-MA(20) at 57.58, accompanied by below-average red volume (0.77 RVol) from the 3.04% decline. The 3.04% daily decline sees price fail resistance at ₱62.55, breaking its 20d SMA at ₱62.86, and now approaching critical support at ₱61.90. A close below ₱61.90 support would indicate further downside, while a bounce could target R1 at ₱62.55, with the ₱71.00 medium-term target requiring a strong reversal.
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