At closing bell, the benchmark S&P/ASX200 index surged 146.23 points, or 2.44%, to 6,144.95, the highest close since 6 March 2020. The broader All Ordinaries added 146.44 points, or 2.39%, to 6,262.91. The Australian share market was closed on Monday for the Queen's Birthday national holiday.
The financial sector rose, as shares of the country's so-called Big Four banks soared. Commonwealth Bank of Australia was up 5.1%, Westpac jumped 5.8%, Australia and New Zealand Banking Group added 6.2% and National Australia Bank gained 5.1%.
Shares of energy players climbed up, on tracking surge in crude oil prices on hopes of a rapid recovery in demand as restrictions are eased. Woodside Petroleum and Santos climbed 5.5% and 7.3%, respectively.
Shares of global miners BHP Group and Rio Tinto were the top gainers on the metals and mining sub-index, propped up by a recent surge in iron ore prices.
CURRENCY NEWS: The Australian dollar changed hands at $0.6958, following an earlier high of $0.7042.
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