The S&P/ASX200 surged 161.3 points on Monday, up 1.85 per cent, to 8,870.1, as the broader All Ordinaries rose 176.5 points, or 1.97 per cent, to 9,131.1.
A recovery for local stocks followed the worst session in 10 months on Friday, which wiped more than $60 billion from the top-500's combined $3.1 trillion market cap.
"It has been a very interesting five and a half weeks in 2026, and it's continued today - just a remarkable rebound," IG market analyst Tony Sycamore told AAP.
"If you look at the sectors that are doing well, it's the ones which got absolutely pulverised on Friday."
Real estate and IT stocks each rocketed more than 3.2 per cent higher, while basic materials jumped three per cent as all 11 sectors pushed into the green.
Gold miners were some of the market's best performers as precious metals continued to swing wildly in the wake of their late January sell-off, hinting at more potential volatility as buyers and sellers tussle towards fair value in the segment.
The precious metal firmed to $US5,022 ($A7,147) an ounce over the session, lifting local miners Evolution and Northern Star more than 3.5 per cent each, while Denver-headquartered Newmont soared 6.5 per cent to $164.92.
Iron ore giants BHP and Rio Tinto traded roughly two per cent higher, despite iron ore futures hovering at six-month lows just below $US100 a tonne.
Copper stocks Sandstone and Capstone improved by more than four per cent each, as did rare earths play Lynas after a rough ride the previous week.
The energy sector rose 1.8 per cent despite a quiet day for oil prices after US-Iran talks at the weekend, with coal miners and uranium stocks doing some heavy lifting.
Consumer-facing sectors did well, with cyclicals up 1.7 per cent and staples trading one per cent stronger
The outsized financial sector rose a solid 1.2 per cent, with all big four banks advancing.
Commonwealth Bank shares rose 0.6 per cent to $159.89 ahead of an earnings update on Wednesday, as ANZ, NAB and Westpac jumped more than 1.4 per cent each.
Alternative lender Pepper Money barrelled 28.4 per cent higher to $2.26 after receiving a takeover bid from Challenger at $2.60 a share.Â
Conversely, Challenger dipped 3.6 per cent into the red and was the top-200's weakest performer.
At the top of the table were gold miners Resolute, Ora Banda and Predictive Discovery.
In other big price moves, Web Travel shares rebounded by more than 18 per cent as it confirmed 2026 guidance, after shares plummeted last week on news its Spanish arm was being audited by the national tax agency.
Local earnings season is in full swing, with Commonwealth Bank, Macquarie, AMP, AGL, CSL, Origin, and NBN Co. among the veritable acronym soup of companies reporting financial results this week.
The Australian dollar is buying 70.29 US cents, up from 69.55 US cents on Friday, supported by last Tuesday's Reserve Bank interest rate hike and as rate markets indicate another likely increase by June.
ON THE ASX:
* The S&P/ASX200 gained 161.3 points, or 1.85 per cent, to 8,870.1
* The broader All Ordinaries rose 176.5 points, or 1.97 per cent, to 9,131.1
CURRENCY SNAPSHOT:
One Australian dollar trades for:
* 70.29 US cents, from 69.55 US cents at 5pm AEDT on Friday
* 110.05 Japanese yen, from 109.04 Japanese yen
* 59.39 euro cents, from 58.96 euro cents
* 51.63 British pence, from 51.26 British pence
* 116.78 NZ cents, from 116.37 NZ cents
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