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.

ASX Tips