Midweek liftoff for ASX, energy best

Technology shares were next best and gained about two per cent.

The benchmark S&P/ASX200 index closed up 48.8 points, or 0.66 per cent, to 7438.9 points.

The All Ordinaries index closed higher by 51.5 points, or 0.67 per cent, to 7762.2 points.

The Australian dollar was buying 72.17 US cents at 1621 AEDT, higher from 71.87 US cents at Tuesday's close.