At closing bell, the benchmark S&P/ASX200 index was up 41.95 points, or 0.57%, to 7,435.31. The broader All Ordinaries index added 38.85 points, or 0.51%, to 7,648.39.
Total 8 of 11 sectors ended higher along with the S&P/ASX 200 Index. Materials was the best performing sector, gaining 1.02%, while information technology was worst performing sector, erasing 0.85%.
The top performing stocks in S&P/ASX200 index were NANOSONICS and VIVA ENERGY GROUP, up 8.02% and 4.74% respectively. The bottom performing stocks in S&P/ASX200 index were NETWEALTH GROUP and NOVONIX, down 9.19% and 7.27% respectively.
Shares of materials and resources was top performing in the ASX industry categories, as lithium chemicals company Allkem and Rio Tinto added 3.3% and 3.2%, respectively. Market heavyweight BHP was up 1.5% as it maintained its production forecasts and announced record iron ore production in Western Australia.
Shares of oil and gas company Santos was down 1.6% despite record annual revenue after it cut its production forecast for 2023 to between 89 million and 96 million barrels of oil equivalent, down from its 2022 production of 103.2 million barrels.
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