At closing bell, the benchmark S&P/ASX200 index was up 25.93 points, or 0.35%, to 7,530.07. The broader All Ordinaries index advanced 27.44 points, or 0.36%, to 7,740.49.
Total 6 of 11 sectors ended higher along with the S&P/ASX 200 Index. Financial was the best performing sector, gaining 0.9%, followed by materials (up 0.76%). Consumer staples was worst performing sector, erasing 0.61%, followed by healthcare (down 0.6%) sector.
The top performing stocks in S&P/ASX200 index were BORAL. and IMUGENE, up 12.78% and 7.69% respectively. The bottom performing stocks in S&P/ASX200 index were ELDERS and HEALIUS, down 5.86% and 5.37% respectively.
Financial stocks advanced, with Suncorp Group (up 4.6%) leading the gains, as it looked to lift its dividend by more than 40%. The dividend bonanza comes as the bank reported sharply higher insurance profits, driven by strong growth in premiums and higher investment returns. Macquarie Group added 2.6% on the back of a 0.25 percentage point increase in the interest rate by the Reserve Bank on Tuesday.
Materials were also higher. Fortescue Metals added 2% after it signed a convention for an iron ore project with the government of Gabon as the broader materials sector gained 0.5%.
Consumer staples and healthcare sectors both were down with product packaging company Amcor and Sonic Healthcare shedding 3.3% and 3% each.
CURRENCY NEWS: The Australian dollar was stood at 0.6986 against greenback on Wednesday, up by 0.42% from previous trading day closure at 0.6958 after trading in the range of 0.6948-0.6996.
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