The Philippine stock index on Monday rebounded 16.09 points, or 0.22  percent, to close at 7,326.41.

Most sectors were in green,  with Mining and Oil as the biggest gainers by 2.05  percent, followed by Financials and Property up by 0.89  percent and 0.80 percent, respectively.

Wilcon Depot, Inc. was the top index gainer, increasing  4.97 percent to P16.48. Meanwhile, Manila Electric Company was at the bottom, declining 1.67 percent to P471.00.

Philstocks Financial Inc., on the other hand, linked the market's positive performance to expectations that the Bangko Sentral ng Pilipinas further loosen monetary policy in their upcoming meeting this week.

Likewise, boosting the sentiment were the positive cues from Wall Street's closing performance last week, the stock analyst added.

Value turnover was P3.68 billion. Advancers outweighed Decliners at  128 to 73,  while 54 names were unchanged.

BDO Unibank, Inc. was the most actively traded stock at P581,399,933.00,  up by 2.10 percent, followed by International Container Terminal Services, Inc. at P315,036,796.00,  down by 1.42  percent.

The peso closed weaker at P57.47, from 57.205  on Friday. It opened the day at 57.28 and traded between 57.26 and 57.5. The weighted average was 57.367.