Australian Market is Extending Yesterday's Big Rally
Australian market is extending yesterday's big rally and banking shares are leading the rally as investors' are turning confident. In morning session, the benchmark S&P/ASX 200 index was up 9.8 points, or 0.2 per cent, to 5212.0, while the broader All Ordinaries gained 9.2 points, or 0.2 per cent, to 5211.2.
Among the sectors, gains in financials (+0.4%) and energy (+0.5%) are offsetting losses in the materials sector (-0.1%).
Banking shares boosted the market in morning session. Here's how:
ANZ: +0.7% at $31.35
CBA: +0.6% at $75.33
NAB: +0.2% at $34.11
Westpac: +0.5% at $34.53
Australian dollar rebounded slightly after touching three years low level of 88.19 US cents, It is presently buying 88.72 US cents.
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