The benchmark Philippine Stock Exchange index (PSEi) moved up by 1.39% or 25.94 points to 1,885.92, while the all shares index jumped by 0.59% or 7.20 points to 1,212.44.
A total of 612 million shares worth P3.94 billion were traded, with net foreign buying at P16 million.
Decliners lead advancers 49 to 37 while 35 stocks did not move.
Doreen Mijares of IGC Securities, Inc. said the surge in the share prices yesterday was due to PLDT, which rose by 4.11% or P90 to P2,275.
Meralco, on the other hand, accounted for a third of the total value of stocks traded and rose by 2.22% or P2 to P92.
PLDT and Meralco shares also buoyed share prices on Tuesday.