At the market close the benchmark ASX 200 index was up 54.10 points or 0.80 percent at 6,827.10, while the broader All Ordinaries index was up 59.90 points or 0.85 percent at 7,079.00.
Almost all sectors ended in the green with Information technology and healthcare outperforming, up 2.95 percent and 2.37 percent respectively.
"Local gains have been rather broad-based with nearly all sectors lifting," CommSec market analyst James Tao said.
"Lagging behind are the resources with both energy and materials trading in the red.
Both oil and iron ore prices fell in overnight trade."
In the financial space, the big banks rallied with Commonwealth Bank up (0.90 percent), National Australia Bank up (0.42 percent), Westpac Bank up (0.61 percent) and ANZ up (0.56 percent).
Mining stocks varied with BHP down (2.17 percent), Rio Tinto down (1.11 percent), Fortescue Metals up (0.69 percent), and gold miner Newcrest up (0.21 percent).
The country's oil and gas producers were mixed with Oil Search up (0.23 percent), Santos down (0.82 percent) and Woodside Petroleum down (0.59 percent).
Australia's largest supermarkets surged with Coles up (1.03 percent), and Woolworths up (0.99 percent).
Meanwhile telecommunications giant Telstra improved (0.65 percent), the national carrier Qantas slipped (0.36 percent) and biomedical firm CSL soared (2.33 percent).
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