At closing bell, the benchmark S&P/ASX200 advanced 57.92 points, or 0.83%, to 7,055.40. The broader All Ordinaries gained 53.11 points, or 0.73%, to 7,312.
Healthcare and IT led the rally, up 1.74% and 1.51% respectively. Property gained 1.41%, while industrials also increased 1.25%. Energy and utilities were the only sectors in the red, down 0.57% and 0.04% respectively.
The big banks, biotech CSL, Rio Tinto and BHP all rose to pull the index to a close higher. Tech stocks were also strong, and the local gold miners were bright after the precious metal brushed seven-week highs.
Energy firms were the most significant drag as climbing COVID cases - particularly in India - cast doubts over global consumption, knocking oil prices lower. Santos fell almost 1% as gas giant reported that its first-quarter revenue grew 9.2% to US$964 million or A$$1.24 billion on Improved commodity prices, with the firm expecting strong LNG prices to continue. Production was up 39% from last year to 24.8 million barrels of oil equivalent.
Woodside Petroleum was down more than 1% after reported first-quarter revenues of US$1.12 billion or A$1.44 billion, up 4.2% from last year. Sales volumes also grew 8% to 25.7 million barrels of oil equivalent. Meanwhile, production declined 2% to 23.7 MMboe from last year.
Shares in AGL fell more than 4% after the utility firm's chief executive Brett Redman abruptly resigned with immediate effect after two-and-a-half years at its helm, ahead of its coal break-up plans.
In economic news, lending for housing continued to lift in March, with the average loan size jumping higher. Lending for household goods and cars is rising, potentially a sign of positive wealth effects at play on the back of rising dwelling prices.
CURRENCY NEWS: The Australian dollar changed hands at $0.7814, having climbed from below $0.774 yesterday.
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