However, overall gains remained modest amid caution ahead of key US inflation data and slew of central bank policy meetings due this week. Investors are pinning hopes that the Federal Reserve, the European Central Bank and Bank of England all will tone down their hawkish stances to help prevent a potential recession.
At closing bell, the benchmark S&P/ASX200 index was up 22.44 points, or 0.31%, to 7,203.27. The broader All Ordinaries index added 18.53 points, or 0.25%, to 7,389.15.
Total 0 of 11 sectors ended higher along with the S&P/ASX 200 Index. Information Technology was the best performing sector, gaining 1.7%, followed by industrials and financials, which rose 1.6% and 1.4%, respectively. Materials issue was worst performer, losing 1.4%.
The top performing stocks in S&P/ASX200 index were BENDIGO AND ADELAIDE BANK and MEGAPORT, up 6.86% and 5.95% respectively. The bottom performing stocks in S&P/ASX200 index were CHALICE MINING and CHAMPION IRON, down 8.1% and 4.56% respectively.
Shares of banks and financials advanced after a measure of consumer sentiment improved slightly in December. All four big banks closed higher as well, with ANZ and NAB the biggest climbers, up 2.4% and 2%. Bendigo and Adelaide Bank surged 6.9% to A$9.66, following its trading update. The bank said its unaudited cash earnings after tax would come in at about $245 million for the 2023 financial year, up 22% on the prior corresponding period, and lending balances had increased 5.2% over the past 12 months.
ECONOMIC NEWS: Australian business confidence fell 4 points to -4 index points in November, while conditions remained elevated at 20 index points, according to National Australia Bank's monthly business survey released Tuesday.
CURRENCY NEWS: The Australian dollar was up 0.27% at $0.6763 against greenback after trading in the range of 0.6740-0.6786.
Powered by Capital Market - Live News
Disclaimer: No Business Standard Journalist was involved in creation of this content
