A Friday rebound lifted the stock market from bear territory, with investors said to have gone bargain-hunting and sentiment also boosted by overnight gains on Wall Street.

The Philippine Stock Exchange index (PSEi) surged by 3.48 percent or 248.27 points to close at 7,383 while the broader All Shares increased by 2.16 percent or 95.44 points to finish at 4,507.40.