At closing bell, the benchmark S&P/ASX200 was up 95.03 points, or 1.29%, to 7,453.35. The broader All Ordinaries index added 95.12 points, or 1.24%, to 7,774.39.
The top performing stocks in this index were MEDIBANK PRIVATE and UNIBAIL-RODAMCO-WESTFIELD, up 5.88% and 5.84% respectively. The bottom performing stocks in this index were SIMS and NOVONIX, down 6.25% and 5.94% respectively.
Energy stocks advanced, as oil prices gained overnight on supply concerns after escalating unrest in OPEC+ oil producer Kazakhstan and supply outages in Libya. Major oil and gas explorers Santos and Woodside Petroleum gained 1.8% and 2.1%, respectively.
Shares of financials jumped, propelled by the "Big Four" banks. Commonwealth Bank of Australia, Westpac Banking, and Australia and New Zealand Banking Group added between 1.6% and 2.2%.
Shares in James Hardie eased 4.1% after the company fired its CEO for inappropriate conduct and appointed a new interim boss.
Australian Pharmaceutical Industries skidded 12.4% after Woolworths Group pulled out its acquisition offer, leaving Wesfarmers as the only bidder.
Ramsay Health Care edged up 0.9% even as it warned of material impact from new restrictions on elective surgery in NSW and Victoria.
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