Banking and mining sectors have helped lift Australia's stock market to strong session. -AAP Image
Strong performances from the banking and mining sectors have helped lift Australia's stock market to a second-straight session of gains, as gold hit yet another record high.
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The S&P/ASX200 gained 80.1 points on Wednesday, up 0.90 per cent, to 8,979.5, as the broader All Ordinaries rose 79.4 points, or 0.86 per cent, to 9,287.9.
Nearly all 11 local sectors ended higher, led by a bounce in banking stocks and continued strength in the raw materials segment, which notched a record close for a second-straight session.
Iron ore giants BHP and Rio Tinto were strong, along with gold miners as the precious metal topped $US4,190 ($A6,433) an ounce for the first time, buoyed by safe haven inflows and dovish talk from US Federal Reserve chair Jerome Powell.
The Australian dollar is slightly stronger against the greenback, buying 65.15 US cents, up from 64.69 US cents on Tuesday at 5pm.
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