PSE Market Shifts: Apollo Global Leads Ascent, Dominion Holdings Plunges Amid Sectoral Swings
Posted on 3/4/26
Trading on the local bourse saw significant movements across various sectors, with speculative interest driving some shares to notable gains while others experienced sharp declines, particularly in the mining and holding company sectors. Investors navigated a day marked by sector-specific catalysts and broader market sentiment.
Top Performers of the Day
Leading the rally was Apollo Global Capital, Inc. (APL), which surged by an impressive 14.29%. The stock closed at P0.0088, adding P0.0011 to its previous close, with a robust volume of 3.47 billion shares changing hands, totaling P29.81 million in value. This significant movement often reflects renewed speculative interest, possibly tied to updates or anticipation of developments in its various business interests, including mining.
Following Apollo Global's lead, Imperial Resources, Inc. (IMP) climbed 9.09%, closing at P0.96. It added P0.08, though with a modest volume of 6,000 shares valued at P5,520.00. The oil and gas exploration sector also saw upward momentum, with Oriental Petroleum and Minerals Corporation 'B' (OPMB) and Oriental Petroleum and Minerals Corporation 'A' (OPM) both gaining 8.33%. OPMB closed at P0.013, up P0.001, on 1.6 million shares valued at P20,800.00, while OPM also finished at P0.013, up P0.001, with a higher volume of 26.5 million shares worth P318,300.00. These gains may be attributed to a positive shift in sentiment towards crude oil prices or regional exploration prospects.
Petron Corporation (PCOR), the country's largest oil refiner, also saw a notable gain of 6.06%, ending the day at P3.50. This represented a P0.20 increase, with 23.75 million shares traded for a total value of P83.32 million. Strong oil demand outlook or favorable refining margins could be contributing factors.
Other significant advancers included Lodestar Investment Holdings Corporation (LODE), up 6.10% to P0.435 with P1.04 million in value, and GMA Holdings, Inc. - Philippine Deposit Receipts (GMAP), which rose 5.38% to P5.88. Investment holding firm House of Investments, Inc. (HI) also added 5.18%, closing at P5.28.
Steepest Declines Recorded
On the losing end, Dominion Holdings, Inc. (DHI) experienced the sharpest drop, plummeting 18.78%. The stock closed at P3.85, shedding P0.89, with 5.46 million shares traded for a value of P22.80 million. Such a significant decline in a holding firm could signal profit-taking after previous runs or concerns over its underlying real estate and investment portfolios.
The mining sector faced headwinds, with several key players seeing substantial losses. Philex Mining Corporation (PX) fell 10.00% to P10.80, losing P1.20, with a hefty P79.63 million worth of shares traded. Lepanto Consolidated Mining Company 'B' (LCB) and Lepanto Consolidated Mining Company 'A' (LC) also saw significant drops of 9.55% and 8.10% respectively, closing at P0.199 and P0.193. Atlas Consolidated Mining and Development Corporation (AT) also declined by 8.98% to P8.01. The widespread slump across mining firms suggests a negative reaction to commodity price trends or sector-specific news.
DigiPlus Interactive Corp. (PLUS), a player in the gaming industry, dropped 8.33%, closing at P16.94. This represented a P1.54 decline, with a high total value of P521.76 million traded, potentially indicating profit-taking after a period of strong performance or concerns over regulatory developments in the gaming sector.
Further declines were observed in PXP Energy Corporation (PXP), which decreased by 7.14% to P3.25, possibly reacting to crude oil price volatility or geopolitical uncertainties impacting exploration prospects. Conglomerate JG Summit Holdings, Inc. (JGS) also closed lower by 6.61% at P26.15, shedding P1.85, amidst broad market adjustments affecting diversified holding companies.
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Market Watch: Imperial Resources, Apollo Global Lead Ascent, Shipping and Mining Stocks See Setbacks
