The Australian stock market built on early momentum during mid-session trading Monday, reversing sharp losses recorded in the previous session despite broadly positive cues from Wall Street on Friday.
The benchmark S&P/ASX 200 Index gained 45.70 points or 0.56 percent to reach 8,218.10, after touching an intraday high of 8,234.80 earlier in the session.
The broader All Ordinaries Index also moved higher, rising 47.70 points or 0.57 percent to 8,451.60 as buying interest spread across most market segments.
Mining stocks provided significant upward momentum, with Rio Tinto gaining more than 2 percent and Mineral Resources adding more than 3 percent on the day.
BHP Group and Fortescue Metals also participated in the mining sector’s advance, each gaining more than 1 percent during mid-market trading.
Oil stocks joined the broader rally, with Woodside Energy gaining 1.5 percent, Beach Energy advancing almost 2 percent, and Santos adding more than 1 percent, while Origin Energy edged down 0.5 percent.
Technology stocks delivered strong performances, with Afterpay owner Block advancing more than 3 percent and Xero gaining 1.5 percent, while WiseTech Global and Appen each rose almost 1 percent.
Gold miners were mostly higher, with Resolute Mining advancing almost 5 percent, Newmont adding almost 3 percent, Gold Road Resources rising 2.5 percent, and Northern Star Resources up almost 2 percent.
Financial stocks stood out as the weakest segment of the market, with Commonwealth Bank and ANZ Banking each losing almost 1 percent, while National Australia Bank and Westpac edged down between 0.2 and 0.3 percent.
Star Entertainment shares were suspended from trading after the casino operator failed to lodge its accounts with the ASX, marking a notable development outside the broader market moves.
Zip bucked the positive trend among technology names, sliding more than 3 percent and standing as one of the session’s more notable underperformers.
The Australian dollar was trading at $0.622 against the US dollar on Monday, reflecting steady conditions in the currency market alongside the equity gains.
