At 10:30 (AEST), the benchmark S&P/ASX 200 index was up 69.20 points or 1.16 percent at 6,020.50, while the broader all Ordinaries index was up 71.30 points or 1.16 percent at 6,218.70.
The gains came ahead of a central bank decision on Australia's official interest rate which was expected to be lowered from 0.25 to 0.10 percent.
However it was a rebound in energy stocks leading market moves in early trade, with the sector up over 4 percent after plummeting around 5 percent the week before.
Also climbing firmly higher were tech and materials, with board gains in both of those sectors, and support also coming from the banks, healthcare and real estate.
In the financial space, the big banks rallied with Commonwealth Bank up (0.89 percent), Westpac Bank up (0.45 percent), National Australia Bank up (0.80 percent) and ANZ up (0.94 percent).
Mining stocks lifted with BHP up (1.46 percent), Rio Tinto up (1.33 percent), Fortescue Metals up (1.05 percent) and goldminer Newcrest up (2.16 percent).
The country's oil and gas producers surged with Oil Search up (3.15 percent), Santos up (3.33 percent) and Woodside Petroleum up (3.56 percent).
Australia's largest supermarkets varied with Coles up (0.11 percent), and Woolworths down (0.05 percent).
Meanwhile telecommunications giant Telstra rallied (0.73 percent), the national carrier Qantas took off (1.39 percent) and biomedical firm CSL bounced (1 percent).
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