The PSEi finished the session higher by 2.53 percent, or 172.44 points, to 6,975.63, while the broader All Shares index rose 0.92 percent, or 35.23 points, to 3,847.41.
Large-cap movers were led by Ayala Land Inc. (+3.59 percent), BDO Unibank (+5.84 percent), and International Container Terminal Services Inc. (+1.32 percent).
Joey Cipres, a research analyst at AP Securities, said the PSEi’s gains brought it just below the 7,000 resistance zone, supported by the end of 16 straight days of foreign selling.
The PSEi rebounded from a post-US elections sell-off that nearly erased its gains for the year.
Technical bounce
A total of 731.77 million shares valued at P5.38 billion changed hands, while net foreign buying amounted to about P82 million.
Cipres noted the rally appeared to be a technical bounce, which will then be followed by a period of consolidation.
Miguel R. Camus has been a reporter covering various domestic business topics since 2009.
