The Philippine benchmark index on Tuesday gained 129.90 points, or 1.77 percent, to close at 7,456.31. 

Almost all sectors were in the green,  with Properties leading the advancers up by 2.06 percent, followed by Holding Firms by 1.77 percent and Financials by 1.71 percent.

Mining and oil were the sole losers, slipping by 0.26 percent.

Manila Electric Company was the top index producer, jumping 5.10  percent to P495.00, while Nickel Asia Corporation was the main laggard, declining 1.05 percent to P3.76.

 Philstocks Financial Inc. senior research analyst Japhet Tantiangco linked the local bourse's positive performance to investors' continued optimism from the expectations that the Bangko Sentral ng Pilipinas will deliver another policy rate cut in their upcoming meeting this week. 

“The positive cues from Wall Street’s record performance overnight also helped in Tuesday’s session,” he added.

The net value turnover posted P6.09 billion, higher than the year-to-date average of P5.21 billion. Advancers outnumbered Decliners at 124  to 92, while 45 names remain unchanged. 

BDO Unibank, Inc. was the most actively traded stock at P999,157,876.00, up by 1.51 percent, followed by International Container Terminal Services, Inc. at P701,332,908.00, up by 1.59 percent.

The peso further weakened to P57.865  to a dollar from 57.47 on Monday.

It opened the day at 57.455 and traded between 57.43 and 57.92.

The weighted average was 57.649.