Australia's S&P/ASX 200 closed at an 11-week high on Tuesday, 10 November 2026, rising 99.3 points, or 1.1 per cent, to 9,129 as banks, miners and property stocks led a broad-based rally.

The advance put the benchmark within about 1.5 per cent of its record high, with nine of the index's 11 sectors finishing higher. The Small Ordinaries, which tracks smaller companies, outperformed with a gain of 2.29 per cent.

Banks and miners lead the advance

The big banks did much of the heavy lifting. Commonwealth Bank rose 1.8 per cent to A$168.99, Westpac gained 1.2 per cent and ANZ added 1.0 per cent, while financial stocks overall rose 1.12 per cent. Miners also advanced, with BHP up 1.1 per cent and Rio Tinto 0.4 per cent higher, and materials gained 1.48 per cent.

Property stocks were among the strongest performers, with real estate investment trusts up 2.23 per cent to a three-month high. Goodman Group jumped 3.4 per cent, while Scentre rose 1.5 per cent and Stockland gained 2.5 per cent.

Qantas Airways was one of the day's biggest movers, climbing 6.3 per cent to A$9.90, and Virgin Australia gained 1.8 per cent. Gold miners also rallied, with the gold sub-index up 2.3 per cent.

Wall Street rebound and lower oil lift sentiment

The rally followed Wall Street's strongest session since April, when the S&P 500 rose 2.35 per cent overnight, and a further fall in oil prices, which eased cost pressures and supported risk appetite across the region.

Rate-sensitive sectors also benefited from the Reserve Bank of Australia's dovish rate rise last week, when it lifted the cash rate to 4.85 per cent while signalling a softer outlook for further increases. Lower bond yields have supported property and financial stocks in recent sessions.

The gains came despite gloomy domestic data. The Westpac consumer sentiment index fell 2.7 per cent to 78.2 points this month, its lowest level in four years, showing households remain cautious even as share prices climb.

The index had edged up 0.9 per cent on Monday to close at 9,029.7, and it never traded below that level during Tuesday's session, reaching an intraday high of 9,159.8.

Investors will now watch whether the ASX 200 can push on towards its record high, with attention turning to the United States, where October inflation data is due later on Tuesday and will shape expectations for the Federal Reserve's December meeting. This article is for information only and is not investment advice. Sources: JournalArta and Market Index.