At closing bell, the benchmark S&P/ASX200 rose by 41.55 points, or 0.57%, to 7,384.17. The broader All Ordinaries added 41.43 points, or 0.54%, to 7,690.74.
Total 9 of 11 sectors ended higher along with the S&P/ASX 200 Index. Energy was top performing sector, adding 10.1%, followed by telecommunication services (up 3.4%), information technology (up 3.2%), cosumer discretionary (up 2.8%), utilities (up 2.5%), and financial (up 2.4%) sectors.
The top performing stocks in this index were REDBUBBLE and FLIGHT CENTRE TRAVEL GROUP, up 7.6% and 7.5% respectively. The bottom performing stocks in this index were NEXTDC and MEGAPORT, down 3.6% and 2.9% respectively.
Shares of Travel and tourism companies advanced, with Qantas Airways soaring up to 4.3% to hit more than a year's high. Travel agency Flight Centre climbed 7.5%, while peer Webjet rose 5.2%.
Energy stocks rose on tracking surge in crude oil prices as parts of the world see demand pick up with the easing of pandemic conditions. Beach Energy and Woodside Petroleum were the top gainers, advancing 4.22% and 3.2%, respectively.
Shares of miners also gained, with Mineral Resources jumping 4.4%, followed by Lynas Rare Earths advancing 2.9%, after iron ore futures gained more than 4% on Friday. Global miners BHP Group, Rio Tinto and Fortescue Metals gained between 1.4% and 4%.
Financial stocks rose, with major four lenders being notable gainers with a spike in lending rates, as higher rates lead to better margins.
Australian Pharmaceutical Industries shares advanced after the drugmaker received a non-binding proposal from Sigma Healthcare, valuing it at A$773.5 million, rivalling an offer from Wesfarmers.
CURRENCY NEWS: The Australian dollar changed hands at $0.7263 following its slide late last week from above $0.729.
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