The broader All Ordinaries Index also experienced gains, climbing 44.60 points or 0.52 percent to 8,673.00.

On February 6, 2025, the Australian market saw a significant uptick, with the S&P/ASX 200 Index rising by 47.50 points, or 0.57 percent, to reach 8,421.50.

This positive momentum followed encouraging cues from Wall Street, despite a prior sharp decline on February 3.

Among the mining stocks, BHP Group rose more than 1 percent, while Rio Tinto and Fortescue Metals saw increases of nearly 2 percent and more than 3 percent, respectively.

In the technology sector, Appen surged over 8 percent after reporting positive quarterly results, while WiseTech Global gained more than 3 percent.

The Australian dollar was trading around US62.53 cents, reflecting the overall positive sentiment in the market.

Nufarm shares rose almost 4 percent following an update on a cost-reduction program that remains on track.

Mining and financial stocks were key drivers of this growth, although energy and technology sectors faced some losses.

Conversely, buy now pay later companies Block and Zip faced declines due to new regulations proposed by the Albanese government, with Block falling nearly 4 percent.

Among the major banks, Commonwealth Bank and Westpac saw minor increases, with Westpac gaining almost 1 percent.

Crude oil prices experienced fluctuations, with West Texas Intermediate settling at $71.03 a barrel, down $1.67 due to rising U.S. crude inventories.

Insignia Financial's shares jumped over 7 percent after a takeover offer of A$3.07 billion from Brookfield.