At closing bell, the benchmark S&P/ASX200 index advanced 61.46 points, or 0.81%, to 7,637.38. The broader All Ordinaries index was down 69.22 points, or 0.88%, to 7,906.61.

All 11 sectors ended higher along with the S&P/ASX 200 Index. Information Technology was the best performing sector, gaining +1.68%, followed by A-REIT (up 1.6%), telecommunication services (up 1.33%), industrials (up 1.23%), and healthcare (up 1.2%) sectors.

The bottom performing stocks in S&P/ASX200 index were KAROON ENERGY and NEWMONT CORP, down 1.8% and 1.45% respectively. The top performing stocks in S&P/ASX200 index were STRIKE ENERGY and BOSS ENERGY, up 10% and 9.13% respectively.

Healthcare stocks advanced, with biotechnology major CSL and Ramsay Health Care gaining 0.6% and 2.02%, respectively.

The 'Big Four' Australian banks experienced stock increases ranging from 0.3% to 0.7%, driven by strong investor interest ahead of upcoming earnings reports.

The IT sector also showed notable growth with a 1.1% rise, echoing the successes of US counterparts like Microsoft and Alphabet.

Mining stocks climbed, buoyed by rising iron ore demand from China, with mining behemoths Rio Tinto and Fortescue adding 0.1% and 0.3%, respectively.

Energy stocks also moved up as global oil prices spiked due to tensions in the Middle East, with Woodside Energy marking a 0.3% increase.

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