At the market close the benchmark S&P/ASX 200 index was up 16.10 points or 0.25 percent at 6,547.20, while the broader All Ordinaries index was up 16.20 points or 0.24 percent at 6,742.70.
"After spending much of the session in negative territory, the Aussie market made a late charge to close at the highest levels of the day," CommSec market analyst James Tao said.
"Financials and information technology were the most improved sectors with the big four banks doing much of the heavy lifting."
In the financial space, the big banks surged with Commonwealth Bank up (1.70 percent), National Australia Bank up (1.84 percent), Westpac Bank up (2.31 percent) and ANZ up (2.00 percent).
Mining stocks were mixed with BHP down (0.87 percent), Rio Tinto up (0.82 percent), Fortescue Metals up (0.36 percent) and gold miner Newcrest down (2.21 percent).
The country's oil and gas producers varied with Oil Search down (2.36 percent), Santos up (0.84 percent) and Woodside Petroleum up (0.55 percent).
Australia's largest supermarkets were mixed with Coles up (0.06 percent), and Woolworths down (0.81 percent).
Meanwhile telecommunications giant Telstra rallied (0.65 percent), the national carrier Qantas jumped (0.77 percent) and biomedical firm CSL dived (0.72 percent).
Latest comments