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The Australian stock market is maintaining its early gains in mid-market moves on Wednesday, adding to the gains in the previous session, with the benchmark S&P\/ASX 200 moving well above the 8,950 level, following the mixed cues from Wall Street overnight, with gains in mining and financial stocks partially offset by weakness in energy stocks.<\/p>\n
The benchmark S&P\/ASX 200 Index is gaining 73.30 points or 0.82 percent to 8,972.70, after touching a high of 8,989.90 earlier. The broader All Ordinaries Index is up 70.50 points or 0.77 percent to 9,279.00. Australian stocks ended modestly higher on Tuesday.<\/p>\n
Among major miners, BHP Group, Fortescue and Rio Tinto are edging up 0.4 to 0.5 percent each, while Mineral Resources is gaining more than 1 percent.<\/p>\n
Oil stocks are mostly lower. Woodside Energy and Santos are losing almost 1 percent each, while Origin Energy is edging down 0.2 percent. Beach energy is edging up 0.2 percent.<\/p>\n
In the tech space, Afterpay owner Block is gaining more than 2 percent and WiseTech Global is adding almost 2 percent, while Appen is losing more than 1 percent and Xero is edging down 0.1 percent. Zip is flat.<\/p>\n
Among the big four banks, Commonwealth Bank, ANZ Banking, Westpac and National Australia bank are all gaining almost 2 percent each.<\/p>\n
Among gold miners, Northern Star Resources and Newmont are adding more than 1 percent each, while Resolute Mining is edging up 0.2 percent and Genesis Minerals is gaining almost 2 percent. Evolution Mining is losing almost 3 percent.<\/p>\n
In the currency market, the Aussie dollar is trading at $0.651 on Wednesday. <\/p>\n<\/p>\n
Market Analysis<\/p>\n<\/div>\n