At 10:30 (AEST), the benchmark S&P/ASX 200 index was up 21.70 points or 0.32 percent at 6,822.10, while the broader All Ordinaries index was up 22.50 points or 0.32 percent at 7,101.40.
Tech stocks led gains on the back of their U.S. counterparts contributing to record gains last week, while local consumer stocks were also firmly higher.
Most other sectors including the banks and miners posted more modest gains, however energy shares sank after finishing the previous week with a net loss, one of only two sectors to do so.
Shortly before the market opened, Australia approved the Pfizer COVID-19 vaccine for public use, paving the way for the country's vaccination rollout to commence from next month.
In the financial space, the big banks rallied with Commonwealth Bank up (0.20 percent), ANZ up (0.24 percent), National Australia Bank up (0.37 percent) and Westpac Bank up (0.41 percent).
Mining stocks were mostly higher with Rio Tinto up (0.76 percent), Fortescue Metals up (2.71 percent) and BHP up (1.19 percent), however goldminer Newcrest was down (0.57 percent).
The country's oil and gas producers slumped with Oil Search down (0.69 percent), Santos down (0.42 percent) and Woodside Petroleum down (0.68 percent).
Australia's largest supermarkets also rallied with Coles up (1.02 percent), and Woolworths up (0.98 percent).
Meanwhile telecommunications giant Telstra bounced (0.16 percent), the national carrier Qantas sank (0.62 percent) and biomedical firm CSL lifted (0.15 percent).
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