The Philippine stock market showed a promising start as it ended Monday's trading session on a positive note.

The bellwether Philippine Stock Exchange index was up by 1.53 percent or 74.58 points to 4,954, while the broader all-share index added 1.29 percent or 41.96 points to 3,308.04.

Trading volume reached 2.83 billion shares worth 6.01 billion pesos (139.23 million U.S. dollars) with 103 stocks advancing, 42 declining, and 40 were unchanged.

All six counters went up, led by the property sector.

Bargain hunting after a huge drop last week sent the local bourse recovering its losses, brokerage DBP-Daiwa Securities, Inc. said.

But brokerage 2TradeAsia.com said whether Monday's performance could be sustained or not is another story as Greece remains the top concern of investors.

"Volatility may prevail at the forex market following the euro' s weakness, unless officials douse market concerns if Greece would leave the euro area," 2TradeAsia.com said.

Greece, it noted, was among the week's hot topics as uncertainties came about on its upcoming government's adherence to austerity measures that were earlier agreed on with creditors.

Apprehensions centered on whether or not the country would leave the euro bloc, causing Greece's currency to weaken further vis-a-vis the greenback.

These uncertainties will likely prompt investors to take more time to stay within their "wait-and-see" mode prior to repositioning in global equities, 2TradeAsia.com said.

"For now, speculative shares might be highlighted especially those that glide well with uncertainties," the brokerage added.

Stocks in the 30-company index closed mixed. Heavyweight Philippine Long Distance Telephone Co., Ayala Land, Inc., and Metropolitan Bank and Trust Co. were among those that went up.