At 10:30 (AEST), the benchmark S&P/ASX 200 index was up 46.40 points or 0.77 percent at 6,108.50, while the broader All Ordinaries index was up 48.80 points or 0.78 percent at 6,313.80.
Healthcare stocks surged above 2 percent in early trade while the tech sector was only slightly behind that mark.
Gains were widespread, however several major stocks dragged key sectors lower, with iron ore mining giants BHP and RIO Tinto sinking, and half of the country's big four banks stalling.
Local results mirrored those from overseas where the uncertain U.S. election result drove investor action.
"Financial, materials and industrial stocks retreated as the prospect of a fiscal stimulus package diminished," CMC Markets chief market strategist Michael McCarthy said.
"However investors once again piled into tech stocks, apparently viewing anti-trust legislation and higher corporate taxes as less likely."
In the financial space, the big banks were mixed with Commonwealth Bank up (0.56 percent), Westpac Bank down (0.23 percent), National Australia Bank up (0.86 percent) and ANZ down (0.62 percent).
Mining stocks sank with BHP down (0.85 percent), Rio Tinto down (0.79 percent) and goldminer Newcrest down (1.23 percent), however Fortescue Metals was up (1.52 percent).
The country's oil and gas producers varied with Oil Search down (0.53 percent), Santos up (0.80 percent) and Woodside Petroleum up (0.60 percent).
Australia's largest supermarkets lifted with Coles up (1.29 percent), and Woolworths up (1.97 percent).
Meanwhile telecommunications giant Telstra rallied (0.55 percent), the national carrier Qantas lifted (0.88 percent) and biomedical firm CSL surged (2.64 percent).
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