The Australian share market surged on Monday, with the top 200 companies finishing 7 percent higher after climbing steadily throughout the day.
At the market close the benchmark S&P/ASX 200 index was up 339 points or 7 percent at 5181.40, while the broader All Ordinaries index was up 319.80 or 6.56 percent 5,194.00.
All sectors finished firmly higher with healthcare leading gains -- surging over 11 percent by the end of trading.
Despite hammering global markets, COVID-19 was boosting business for some companies.
"Ansell reaffirmed its profit goals for FY20, thanks to very strong demand for its hand and body protection products (including surgical gloves and single use examination gloves) due to COVID-19," Commsec market analyst Steven Daghlian said.
"Markets are likely to remain volatile until there's a slowdown in the spread of the virus and evidence that government and central bank stimulus is working."
In the financial space, Australia's big banks rallied with the Commonwealth Bank up (10.91 percent), ANZ up (8.47 percent), National Australia Bank up (7.87 percent) and Westpac Bank up (8.53 percent).
Mining stocks were mostly higher with Rio Tinto up (2.05 percent), BHP up (4.03 percent) and Fortescue Metals up (5.21 percent), however goldminer Newcrest was down (0.77 percent).
The country's oil and gas producers were mostly lower with Oil Search down (0.85 percent) and Santos down (0.88 percent), however Woodside Petroleum was up (6.71 percent).
Australia's largest supermarkets jumped with Coles up (6.93 percent), and Woolworths up (9.60 percent).
Meanwhile telecommunications giant Telstra bounced (6.91 percent), the national carrier Qantas lifted (2.89 percent) and biomedical firm CSL soared (12.02 percent).
At the market close the benchmark S&P/ASX 200 index was up 339 points or 7 percent at 5181.40, while the broader All Ordinaries index was up 319.80 or 6.56 percent 5,194.00.
All sectors finished firmly higher with healthcare leading gains -- surging over 11 percent by the end of trading.
Despite hammering global markets, COVID-19 was boosting business for some companies.
"Ansell reaffirmed its profit goals for FY20, thanks to very strong demand for its hand and body protection products (including surgical gloves and single use examination gloves) due to COVID-19," Commsec market analyst Steven Daghlian said.
"Markets are likely to remain volatile until there's a slowdown in the spread of the virus and evidence that government and central bank stimulus is working."
In the financial space, Australia's big banks rallied with the Commonwealth Bank up (10.91 percent), ANZ up (8.47 percent), National Australia Bank up (7.87 percent) and Westpac Bank up (8.53 percent).
Mining stocks were mostly higher with Rio Tinto up (2.05 percent), BHP up (4.03 percent) and Fortescue Metals up (5.21 percent), however goldminer Newcrest was down (0.77 percent).
The country's oil and gas producers were mostly lower with Oil Search down (0.85 percent) and Santos down (0.88 percent), however Woodside Petroleum was up (6.71 percent).
Australia's largest supermarkets jumped with Coles up (6.93 percent), and Woolworths up (9.60 percent).
Meanwhile telecommunications giant Telstra bounced (6.91 percent), the national carrier Qantas lifted (2.89 percent) and biomedical firm CSL soared (12.02 percent).
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