At closing bell, the benchmark S&P/ASX200 index surged 113.03 points, or 1.63%, to 7,059.22. The broader All Ordinaries index gained 117.96 points, or 1.65%, to 7,249.11.
More sectors ended lower than higher, despite the gain in the S&P/ASX 200 Index. Consumer Discretionary was the best performing sector, gaining 0.59%. Energy was the worst performing sector, falling 1.3%.
The top performing stocks in S&P/ASX200 index were CORE LITHIUM and PINNACLE INVESTMENT MANAGEMENT GROUP, up 7.77% and 7.03% respectively. The bottom performing stocks in S&P/ASX200 index were BRAINCHIP HOLDINGS and KAROON ENERGY, down 8.4% and 4.6% respectively.
Shares of consumer discretionary companies advanced. Domino's Pizza Enterprises was up 1.7% and IDP Education gained 1.8%. Shares in travel companies also fared well, including Flight Centre (up 3%) and Qantas (up 2.6%).
Materials stocks rose, with De Grey Mining and Newcrest Mining up 6.9 and 2.9%. Core Lithium was up 7.8% and Pinnacle Investment Management gained 7%.
Energy stocks remained in the red as gas prices fell and oil prices remained low. Woodside shed 1.8%.
CURRENCY NEWS: The Australian dollar was stood at 0.6822 against greenback on Thursday, down by 0.15% from previous trading day closure at 0.6832 after trading in the range of 0.6801-0.6845.
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