ASX sectoral indices were mostly higher, with materials, healthcare, consumer discretionary, telecom, and realty issues being notable gainers.
At closing bell, the benchmark S&P/ASX200 index added 26.94 points, or 0.35%, to 7,753.70. The broader All Ordinaries index was up 25.20 points, or 0.32%, to 8,020.91.
Total 8 of 11 sectors ended higher along with the S&P/ASX 200 Index. Material was the best performing sector, gaining +1.19%, while industrial sector was bottom performer, down 0.63%.
The best-performing stocks in S&P/ASX200 index were IDP EDUCATION and NEUREN PHARMACEUTICALS, up 7.05% and 5.64% respectively. The bottom performing stocks in S&P/ASX200 index were HEALIUS and FLETCHER BUILDINGS, down 5.97% and 4% respectively.
Real estate investment trusts were among the worst performers as Westfield shopping centre Scentre Group and developer Mirvac both dropped about 1%.
Industrial stocks also declined, led lower by Seven Group Holdings (down 3.1%), Transurban (down 1.8%) and Brambles (down 1.5%).
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Materials stocks performed strongly, with BHP (up 2.2%) and Rio Tinto (up 1.1%), together with coal miner South32 (up 1.4%) leading gains.
Shares of of critical minerals and rare earth miner Mineral Resources (up 0.6%) and Lynas (up 1.3%) advanced, after the federal government announced in the budget $7 billion in tax incentives over 11 years from 2023-24, aimed at boosting the sector.
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