At 11:00 (AEST), the benchmark ASX 200 index rose 15.40 points, or 0.23 percent, to 6,630.70, while the broader All Ordinaries index was up 14.40 points, or 0.21 percent, at 6,861.70.
"Markets maintained their vaccine inspired pro-growth stance in overnight trading," CMC Markets chief market strategist Michael McCarthy said.
"Crude, copper and iron all rose, and the Nasdaq hit new record highs despite late wobble."
Meanwhile, better-than-expected economic data in the U.S. also helped bolster market sentiment.
Financials were leading local market gains, up 0.60 percent, while the mining sector retreated despite iron ore prices jump.
In the financial space, the big banks rallied with Commonwealth Bank up (0.58 percent), National Australia Bank up (0.31 percent), Westpac Bank up (0.20 percent) and ANZ up (0.87 percent).
Mining stocks sank with BHP down (0.29 percent), Rio Tinto down (0.26 percent), Fortescue Metals down (0.87 percent), and gold miner Newcrest down (0.94 percent).
The country's oil and gas producers surged with Oil Search up (0.80 percent), Santos up (2.07 percent) and Woodside Petroleum up (0.46 percent).
Australia's largest supermarkets varied with Coles unchanged (0.00 percent), and Woolworths down (0.16 percent).
Meanwhile telecommunications giant Telstra lifted (0.17 percent), the national carrier Qantas slumped (2.00 percent) and biomedical firm CSL edged higher (0.04 percent).
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