By Oliver Gray
Investing.com - The S&P/ASX 200 added 90.9 points or 1.3% to 7309.9 during Tuesday's trade, buoyed by an outperforming materials sector as market participants reacted positively to Westpac's strong consumer sentiment reading.
Among stocks, Rio Tinto Ltd (ASX:RIO) added 1.9%, BHP Group Ltd (ASX:BHP) gained 2.1% and Fortescue Metals Group Ltd (ASX:FMG) lifted 2.9%.
Gold miners outperformed with Newcrest Mining Ltd (ASX:NCM) lifting 5.2%, Evolution Mining Ltd (ASX:EVN) up 3.9% and Chalice Gold Mines Ltd (ASX:CHN) lifting 3.3%.
On the data front, the Westpac consumer sentiment reading came in well above expectations, surging 9.4% versus 1.5% expected following the RBA's pause in interest rate hikes last week, while NAB's business confidence was reported slightly above analyst expectations.
On the bond markets, Australia 10-Year rates were at 3.229%.
In New Zealand, the NZX 50 finished flat at 11,873.6.