Manila: The Philippine Stock Exchange index (PSEi) saw a partial recovery on Tuesday, bolstered by the recent strengthening of the peso, despite the currency experiencing weakness during the day. After closing Monday's session in the red, the benchmark index climbed 1.98 percent to 6,474.60 points. The broader All Shares index also saw an increase, gaining 0.89 percent to 3,593.10 points.

According to Philippines News Agency, all sectoral indices recorded advances, with the Services sector leading the rise by surging 4.40 percent. Financials followed with a gain of 1.44 percent, alongside Holding Firms at 1.18 percent, Mining and Oil at 0.47 percent, Property at 0.44 percent, and Industrial at 0.29 percent. Trading volume was notable, reaching 754.25 million shares with a value of PHP6.86 billion. Advancers outpaced decliners, tallying 110 to 90, while 63 issues remained unchanged.

Luis Limlingan, head of sales at Regina Capital Development Corporation, remarked that the PSEi ended the day sharply higher, rebounding from the previous day's decline due to renewed buying interest in the market. He noted that sentiment was bolstered by the peso's firmness against the US dollar, which encouraged foreign inflows. Limlingan further added that gains were broad-based as investors capitalized on lower prices amid improved currency stability.

Despite these gains, the peso weakened to 58.53 from Monday's 58.45. It started the day stronger at 58.40 from 58.50 previously and fluctuated between 58.38 and 58.53, averaging 58.48 for the day. The foreign exchange volume increased to USD1.18 billion from the previous session's USD1.08 billion.