At closing bell, the benchmark S&P/ASX200 index was up 50.47 points, or 0.7%, to 7,231.77. The broader All Ordinaries index added 46 points, or 0.62%, to 7,422.41.
Total 9 of 11 sectors ended higher along with the S&P/ASX 200 Index. Utilities was the best performing sector, gaining 1.56%. Meanwhile, industrials (up 1.3%), energy (up 1.3%), materials (up 1%), and financials (up 0.7%) issues were also notable gainers. Information technology sector was worst performer, erasing 1.05%.
The top performing stocks in S&P/ASX200 index were BRAINCHIP HOLDINGS and CHALICE MINING, up 6.9% and 6.5% respectively. The bottom performing stocks in S&P/ASX200 index were WESTECH GLOBAL and THE STAR ENTERTAINMENT GROUP, down 6.7% and 5.6% respectively.
Industrial sector performed strongly, led by Qantas, up 5.3%, after lifting its profit forecast for the December half. The airline said it now expects between $1.35 billion and $1.45 billion in underlying profit before tax in the first half of its financial year, up $150 million from its previous guidance given in October.
Materials and resources and energy stocks gained amid a spike in commodity prices. Mining heavyweights BHP rose 1%, while Woodside Energy added 0.9%.
The big four banks all closed higher, with the strongest gains made by National Australia Ban, which added 1%.
The information technology sector performed poorly. WiseTech global led losses with decline of 6.7%, as the software maker maintained its earnings growth of 21% to 30% this year in AGM, disappointing any investor hopes for a profit upgrade.
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