The local bourse resumed its bullish stride to start the week, climbing by 164.93 points, or 2.27 percent, to close at 7,417.25 level.
Most of the sectors were in green, with Banking leading the gainers, up by 3.69 percent; followed by Services and Holding Firms, up by 2.01 percent and 1.95 percent, respectively.
The Mining was the only one in red, down by 0.01 percent.
Bank of the Philippine Islands was the top index gainer, climbing by 5.06 percent to P139.20, while Converge ICT Solutions Inc. was at the bottom, shredding by 2.67 percent to P16.80.
The sentiment performance comes after investors continued to cheer the Bangko Sentral ng Pilipinas’ (BSP) move to cut banks’ reserve requirement ratios, said Philstocks Financial Inc. senior research analyst Japhet Tantiangco.
He added that the BSP and Fed’s monetary policy-easing prospects also boosted the local bourse.
The net value turnover was P8.27 billion, with 121 advancers, 93 decliners, and 52 names unchanged.
Metropolitan Bank & Trust Company was the most actively traded stock, valued at P980,732,361.00, up by 2.38 percent; followed by International Container Terminal Services Inc. at P637,894,960.00, up by 2.63 percent.
The peso closed at P55.97 as against the greenback. Last Friday, it finished at 55.69. The dollar-peso pair opened at 55.67 and never looked back until it reached its peak at 55.97. The weighted average for today's trade was 55.74.