Strong earnings from US chip maker Nvidia has refuelled positivity in the Australian IT sector. -AAP Image
The local bourse has notched its biggest gain since August as technology rebounds and mining boons lead the line for market rises.
Hold tight - we’re checking permissions before loading more content
The S&P/ASX200 rose 104.8 points on Thursday, up 1.24 per cent to 8,552.7, as the broader All Ordinaries gained 112.6 points, or 1.29 per cent, to 8,834.
Nine of 11 local sectors finished positively with the foundation of the rally lying in the materials and financials heavyweight sectors, which had their best session in weeks.
IT stocks shot up on the back of a five per cent revenue increase for US chipmaker Nvidia, which also settled nerves regarding a potential artificial intelligence bubble, at least for now.
The Australian dollar was buying 64.88 US cents, down from 64.89 at 5pm on Wednesday.
14°C