The benchmark S&P/ASX200 index was up 44.4 points, or 0.63 per cent, to 7,140.1 at noon on Wednesday, while the All Ordinaries was up 47.7 points, or 0.65 per cent, to 7,366.3
The financial sector was down 2.1 per cent after the Reserve Bank of Australia surprised markets a day earlier with a larger-than-expected 50 basis point interest rate hike, with all four big banks sharply in the red.
Westpac was down 5.0 per cent to a nearly three-month low of $22.23, NAB dropped 3.0 per cent to $29.21, CBA was down 3.1 per cent to $98.75 and ANZ fell 2.3 per cent to $23.90.
There were gains just about everywhere else, though, with industrials, the mining sector, tech stocks and utilities up by between 2.3 and 2.5 per cent.
BHP had risen 3.2 per cent to $47.76, Rio Tinto was up 2.8 per cent to $119.80 and Fortescue had climbed 1.8 per cent to $21.53.
Goldminers Newcrest, Northern Star and Evolution were up by between 1.8 and 2.2 per cent.
Boral soared 14.7 per cent to $3.28 after former InfraBuild boss Vik Bansal was appointed as the building and construction company's next CEO and managing director, effective December 5.
Mr Bansal led ASX-listed Cleanaway through a transformation in 2015 through 2021 but was ousted following accusations he had created a toxic workplace culture.
Boral chairman Ryan Stokes called Mr Bansal a "seasoned leader with extensive experience, and has a track record of instilling discipline and efficiency in complex businesses to create value for all stakeholders".
Atlas Arteria had climbed 15.8 per cent after IFM Investors' Diamond Infraco took took 15 per cent stake in the toll road company in a prelude to a possible takeover offer.
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