The Philippine stock market bounced back on Friday on bargain hunting.

The bellwether Philippine Stock Exchange index added 0.93 percent or 66.46 points to 7,227.37, while the broader all-share index rose by 0.89 percent or 37.95 points to 4,325.72.

Trading volume reached 5.38 billion shares worth 7.73 billion Philippine pesos with 135 stocks dvancing, 54 declining, and 46 were unchanged.

All six counters were up, led by the services sector.

"With the US presidential election still gripping the market, the local market traded sideways with chances of a technical bounce," online brokerage 2TradeAsia.com said in its daily stock market comment.

For next week, investors will be looking forward to reports on the country's inflation rate last month as well as the US presidential election.

The Philippine Statistics Authority is set to release inflation rate for October and investors are optimistic that it would be within the local central bank's range of 2 percent to 4 percent.

Stocks in the 30-company index were mostly up. These include Metroplitan Bank and Trust Co., index heavyweight PLDT, Inc., and BDO Unibank, Inc.