At closing bell, the benchmark S&P/ASX200 index was up 27.38 points, or 0.36%, to 7,703.23. The broader All Ordinaries index grew 32.53 points, or 0.41%, to 7 957.76.
More sectors ended lower than higher, despite the gain in the S&P/ASX 200 Index. Materials was the best performing sector, gaining +2.11%, followed by energy (up 1.98%), A-REIT (up 1.13%), and utilities (up 0.76%). Consumer staples sector was bottom performer, falling 0.84%.
The top performing stocks in S&P/ASX200 index were NICKEL INDUSTRIES and BELLEVUE GOLD, up 8.11% and 7% respectively. The bottom performing stocks in S&P/ASX200 index were POLYNOVO and LIONTOWN RESOURCES, down 6.81% and 3.49% respectively.
Shares of materials and resources companies were the best-performing industry group after iron ore soared 4.1% to $US104 a tonne. BHP rose 2.8%, Fortescue climbed 3.6% and Rio Tinto lifted 2.5%.
The utilities shares were also higher after Origin and AGL shares went up, 0.7% and 1.8%, respectively, on the back of the Australian Energy Regulators draft decision to cut the default market offer on the eastern seaboard by as much as 10%.
Consumer staples stocks recorded the greatest slump, with Woolworths and Coles down more than 1%. Treasury Wine Estates fell 0.3% and Endeavour Group declined 0.4%.
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