The ASX 200 index was up 1.6 per cent to 5,316 by 11:07am (AEST), while the broader All Ordinaries was up 83 points to 5,398, having been as high as 5,410 earlier in the session.
It is the first time the All Ords has cracked 4,000 points in a month.
The strong gains have been broad-based, with 184 of the top 200 companies rising.
The market heavyweight banking and mining sectors were the driving force behind the strong market gains, with all four major banks up more than 2 per cent and BHP Billiton posting a similar rise.
