The Australian sharemarket rose 0.3 per cent, or 22.8 points to 7161.7 at market close, buoyed by a rally in mining and financials stocks.

The materials sector was the best performing, up 2.5 per cent. BHP Group shares rallied 3.6 per cent. Fortescue Metals increased 4.3 per cent. Rio Tinto added 2.6 per cent. Mineral Resources jumped 5.1 per cent. Pilbara Minerals gained 3 per cent.

Gold stocks were among the worst performers on the ASX.

Capricorn Metals tumbled 6 per cent. Bellevue Gold fell 5.2 per cent. Gold Road Resources declined 2.5 per cent. Regis Resources fell 1.5 per cent. Ramelius Resources lost 1.7 per cent.

The financials sector was also in the green. Commonwealth Bank shares firmed 0.9 per cent. National Australia Bank rose 1.2 per cent. Westpac added 1.3 per cent. Investment bank Macquarie Group rose 1.4 per cent.

Insurance Australia Group rallied 2.6 per cent. QBE Insurance edged up 0.9 per cent.

Healthcare stocks dropped 4.8 per cent and was the worst performing sector. CSL shares tumbled 6.9 per cent after it downgraded its financial year 23 statutory profit forecast due to FX damage.

Other healthcare stocks followed suit, Cochlear shares dropped 1 per cent. EBOS dropped 2.1 per cent. Fisher and Paykel shed 0.8 per cent. Resmed lost 0.9 per cent.