THE stock market rallied on Thursday, with analysts pointing to bargain-hunting for shares of property firms SM Prime Holdings Inc. (SMPH) and Ayala Land, Inc. (ALI) as having provided the lift.

The benchmark Philippine Stock Exchange index (PSEi) rose by 0.80 percent or 62.50 points to close at 7,927.20 while the broader All Shares grew by 0.61 percent or 28.71 points to finish at 4,743.84.