The Australian stock market is maintaining its early gains in mid-market trading on Tuesday, reversing some of the sharp losses in the previous two-sessions, following the broadly positive cues from Wall Street overnight. The benchmark S&P/ASX 200 is moving above the 8,700 level, with gains across most sectors led by mining and energy stocks.
The benchmark S&P/ASX 200 Index is gaining 114.90 points or 1.34 percent to 8,713.90, after touching a high of 8,750.60 earlier. The broader All Ordinaries Index is up 117.60 points or 1.33 percent to 8,941.20. Australian stocks closed slightly lower on Monday.
Among the major miners, BHP Group is gaining more than 2 percent, Mineral Resources is surging more than 5 percent and Rio Tinto is adding more than 1 percent. Fortescue is flat. Oil stocks are mostly lower. Origin Energy is slipping more than 2 percent and Santos is losing more than 3 percent, while Woodside Energy and Beach energy are declining more than 4 percent each.
Among tech stocks, Afterpay owner Block and Zip are gaining more than 1 percent each, while Appen is advancing almost 2 percent, WiseTech Global is adding more than 2 percent and Xero is up almost 1 percent.
Gold miners are mostly higher. Evolution Mining is gaining almost 1 percent, Genesis Minerals is up more than 2 percent and Resolute Mining is advancing almost 4 percent, while Northern Star resources and Newmont are adding almost 2 percent each.
Among the big four banks, Commonwealth Bank, Westpac, ANZ Banking and National Australia Bank are all gaining almost 2 percent each.
In economic news, Australia's Westpac-Melbourne Institute Consumer Sentiment Index rose 1.2 percent to 91.6 on month in March 2026, reversing a 2.6 percent drop in the prior month and marking the first rise since last November.
In the currency market, the Aussie dollar is trading at $0.707 on Tuesday.
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Market Analysis
May 22, 2026 14:46 ET Minutes of the latest Fed policy session was the highlight of the week along with survey data on the U.S. housing market. In Europe, survey data signaled the trends in the euro area private sector. Further, consumer price inflation data from the U.K. was in focus. In Asia, various economic indicators from China drew attention to the health of the economy.