“It’s a long-overdue bounce after several days of decline, led mostly by last week’s biggest losers as bargain hunters stepped in to support the market,” Alfred Benjamin R. Garcia, AP Securities Inc. research head, said on Monday.
The PSEi rallied 1.95 percent, or 129.04 points, to 6,742.89, while the broader All-Shares index rose 1.35 percent, or 50.52 points, to 3,789.60.
The market saw a value turnover of P4.65 billion, with foreign investors recording net selling of P77.7 million. Services and holding firms posted the strongest gains of 3.53 percent and 3.33 percent, respectively.
Among the most traded stocks were Bank of the Philippine Islands (-0.16 percent), International Container Terminal Services Inc. (+5.41 percent), BDO Unibank Inc. (+0.45 percent), Universal Robina Corp. (-2.09 percent), and DigiPlus Interactive Corp. (+5.75 percent).
Miguel R. Camus has been a reporter covering various domestic business topics since 2009.
