The Philippine Stock Exchange index (PSEi) was up 58.70 points to 6,317.41, a 0.94 percent hike.
The broader all shares index was up 29.28 points to 3,906.71, a 0.75 percent hike.
Gainers edged losers 116 to 97 with 46 stocks unchanged. Trading turnover reached P4.57 billion.
The peso closed at 47.865 to the dollar, down from 47.855 on Friday. It opened at 47.8, hitting a high of 47.79 and a low of 47.877. Trading turnover reached $715.25 million.
The peso traded marginally lower ahead of gross domestic product (GDP) data expected on Tuesday.
Analysts at Mizuho expect the country to post a contraction in GDP to -3.5 percent in the first quarter, as a lockdown in capital city Manila in late March and a slow vaccine drive hinder early signs of recovery.
SB Equities, however, noted local investors pushed the index to close higher in expectation of the release of the GDP results Tuesday.
“Philippine stocks started the week on a positive tone as the local bourse rebounded on Monday after six consecutive sessions of decline ahead of first quarter GDP data release,” it said.
Foreign funds were on 27 consecutive days of net selling, selling P329.46 million worth of shares.
Japhet Tantiangco, analyst at Philstocks Financial Corp., meanwhile said investors were also cheered by the OCTA Research Group’s report that showed that “the COVID-19 situation in the National Capital Region is improving, as it raises hopes of further easing of restrictions in the said area.”
“Progress in our COVID-19 vaccine procurement amid the delivery of additional doses of Sinovac and AstraZeneca’s vaccines to the country also helped this Monday,” Tantiangco said.
Most actively traded Ayala Land Inc. was down P0.05 to P32.20. International Container Terminal Services Inc. was up P5.80 to P131.20. SM Investments Corp. was up P19 to P939. AC Energy Corp. was up P0.26 to P7.18. PLDT Inc. was down P33 to P1,235. BDO Unibank Inc. was up P1.50 to P105.50. Metropolitan Bank and Trust co. was up P0.45 to P44. Greenergy Corp. was up P0.13 to P4.10. Converge Information and Communication Technology Solutions INc. was down P0.18 to P18.82. SM Prime Holdings Inc. was down P0.10 to P33.70.
