Australian equities ended the trading session higher in Sydney on Wednesday, supported by sector-level strength in gold, IT and metals & mining. At the close, the benchmark S&P/ASX 200 had added 2.55%, reaching a new one-month peak.
On an individual stock basis, the session's top performers on the S&P/ASX 200 included Zip Co Ltd (ASX:ZIP), which jumped 19.76% - a rise of 0.33 points - to finish at 2.00. Temple & Webster Group Ltd (ASX:TPW) advanced 14.07%, gaining 0.95 points to close at 7.70. Greatland Resources Ltd (ASX:GGP) climbed 13.70% - up 1.83 points - to end the day at 15.19.
By contrast, notable decliners included DroneShield Ltd (ASX:DRO), which fell 14.54% or 0.58 points to trade at 3.41 at the close. Woodside Energy Ltd (ASX:WDS) declined 10.67%, down 3.82 points to finish at 31.98, and New Hope Corporation Ltd (ASX:NHC) slipped 9.57% or 0.56 points to close at 5.29.
Market breadth on the Sydney exchange was tilted heavily toward advancers: 938 stocks rose versus 269 that fell, while 348 issues finished unchanged.
Greatland Resources recorded a milestone during the session, rising to an all-time high with its 13.70% gain taking the share price to 15.19.
Volatility eased as the S&P/ASX 200 VIX, a gauge of implied volatility for S&P/ASX 200 options, declined 3.00% to 15.92.
Commodity markets showed mixed moves. Gold futures for June delivery were higher, up 2.79% or 131.84 to $4,864.09 a troy ounce. In energy markets, futures posted sizable declines: crude oil for May delivery fell 16.15% or 18.24 to $94.71 a barrel, while the June Brent contract dropped 15.01% or 16.40 to trade at $92.87 a barrel.
Foreign exchange rates moved in favour of the Australian dollar against several peers. AUD/USD appreciated 1.46% to 0.71, and AUD/JPY rose 0.41% to 111.80. Meanwhile, the US Dollar Index Futures eased 1.18% to 98.50.
Market takeaway - The session was characterised by broad participation on the upside, with precious metals, technology names and mining stocks leading the advance while select energy and defence-related stocks recorded steep declines.