Australia stock market finished session modestly on Monday, 22 April 2024, snapping the six-session losing streak, as bargain-hunting resumed on easing geopolitical tensions in the Middle East.

At closing bell, the benchmark S&P/ASX200 index advanced by 81.88 points, or 1.08%, to 7,649.16. The broader All Ordinaries index added 84.67 points, or 1.08%, to 7,902.03.

All sectors, except energy, ended higher along with the S&P/ASX 200 Index. Health Care was the best performing sector, gaining 1.97%, followed by telecommunication services (up 1.73%), industrials (u[ 1.521%), consumer staples (up 1.5%), and information technology (up 1.5%) sectors.

The top performing stocks in S&P/ASX200 index were SOUTH32 and SEEK, up 5.64% and 5.35% respectively. The bottom performing stocks in S&P/ASX200 index were BELLEVUE GOLD and KAROON REGIS RESOURCES down 6.94% and 3.51% respectively.

Shares of healthcare companies closed higher, with biotech giant CSL (up 2.2%) and hearing-implants maker Cochlear (up 2.3%) led the gains,

Technology stocks also gains, with cloud-based accounting software provider Xero (up 2.4%) and TechnologyOne (up 2.2%) led the gains.

Shares of big-four banks ended higher, with the country?s biggest, CBA, gaining 0.9%. Shares in Macquarie Group jumped 1.7% after its banking and financial services arm decided to halt new car lending through its direct, broker and novated leasing channels.

Materials and resources climbed up. Mining heavyweights BHP (up 1.8%), Fortescue (up 0.8%) and Rio Tinto (up 0.2%) were all stronger.

Shares of energy sector weighed on the market with Woodside Energy shares tumbling 2.6% and Santos 1.2%, while coal miners Yancoal (down 1.9%) and Whitehaven (down 1%) also lost ground.

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