By Oliver Gray
Investing.com - The S&P/ASX 200 added 60.2 points or 0.9% to 7,015.6 during Wednesday's trade, rallying for the second consecutive session amid easing fears of a global financial crisis.
Among stocks, Energy gained 4.2% overall, with Woodside Energy Ltd (ASX:WDS) up 5.2%, Beach Energy Ltd (ASX:BPT) adding 4.7%, Viva Energy Group Ltd (ASX:VEA) lifting 3.1% and South32 Ltd (ASX:S32) up 1.6%.
Consumer Staples were up 1.8% with Woolworths Ltd (ASX:WOW) adding 2.2%, Coles Group Ltd (ASX:COL) up 1.5%, Endeavour Group Ltd (ASX:EDV) lifting 1.6% and Metcash Ltd (ASX:MTS) up 0.3%.
Later in the session, investors will be closely monitoring the Federal Reserve's interest rate decision and press conference amid expectations of a 25 basis point hike.
On the bond markets, Australia 10-Year rates were at 3.371%.
In New Zealand, the NZX 50 added 55.6 points or 0.5% to 11,586.9.