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.
Total 10 of 11 sectors ended higheralong with the S&P/ASX 200 Index. Information Technology was the best performing sector, gaining +2.91%, followed by financials (up 2.23%), consumer discretionary (up 2.15%), and materials (up 1.89%). Energy was the worst performing sector, falling 1.3%.
The top performing stocks in S&P/ASX200 index were BRAINCHIP HOLDINGS and SAYONA MINING, up 11.41% and 10.53% respectively. The bottom performing stocks in S&P/ASX200 index were WOODSIDE PETROLEUM and VIVA ENERGY GROUP, down 2.4% and 1.87% respectively.
Shares of information technology was the top-performing sector on Wednesday, gaining 2.9%, with sector major Novonix up as much as 8.2% and BrainChip rising as much as 5%.
The financials stocks posted a solid session, with Commonwealth Bank, NAB and Westpac all traded higher.
Mining stocks rose despite weaker commodity prices. BHP Group, Rio Tinto and Fortescue Metals gained between 1.4% and 2.4%.
Energy stocks remained in the red after oil prices dropped to post their biggest fall in more than a month. Woodside Energy declined 2.4% and Santos shed 1.7%.
CURRENCY NEWS: The Australian dollar was stood at 0.6876 against greenback on Wednesday, up 2.1% from previous trading day closure at 0.6733, after trading in the range of 0.6717-0.6884.
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