At the market close the benchmark S&P/ASX 200 index was up 7.20 points or 0.12 percent at 6,191.80, while the broader All Ordinaries index was up 6.30 points or 0.10 percent at 6,403.10.
"The financials and energy sectors led the charge higher. Global oil prices firmed overnight by as much as 1.5 percent on hopes that a US stimulus package would support crude demand," CommSec market analyst James Tao said.
"On the downside, consumer staples and healthcare weighed heavily. "
In the financial space, the big banks surged with Commonwealth Bank up (0.77 percent), National Australia Bank up (1.62 percent), Westpac Bank up (0.97 percent) and ANZ up (1.45 percent).
Mining stocks were mostly higher with BHP up (0.59 percent), Rio Tinto up (1.24 percent), and Fortescue Metals up (0.30 percent). However, gold miner Newcrest was down (0.69 percent).
The country's oil and gas producers surged with Oil Search up (3.51 percent), Santos up (1.97 percent) and Woodside Petroleum up (1.59 percent).
Australia's largest supermarkets slumped with Coles down (1.91 percent), and Woolworths down (1.33 percent).
Meanwhile telecommunications giant Telstra slipped (0.36 percent), the national carrier Qantas lifted (0.23 percent) and biomedical firm CSL slumped (1.30 percent).
Latest comments