THE share market posted its eighth consecutive close above 4000 points today, spurred on by financial stocks and the continuing run of stronger investor sentiment.
At 4.15pm (AEST), the benchmark S&P/ASX200 index was up 29.9 points, or 0.72 per cent, at 4169.5 points, while the broader All Ordinaries index had put on 26.2 points, or 0.63 per cent, to 4174 points.
CMC Markets head of trading James Foulsham said trading volumes were higher on increased investor optimism that let the market consolidate above 4000 points.
"We've seen a fair jump in trading volumes over the last couple of days,'' he said.
"People were a little bit edgy about there being a pull-back, but now they see it holding above 4000 there is a little bit more confidence around.
"We had a very good commission day yesterday - one of the best we've had in two months - so that's quite a good indication that people are coming back into the market again.''
More confidence from US investors and a surge in US home sales in June gave the local bourse a positive lead, with financials leading the market higher.
Mr Foulsham said Westpac, NAB, and Macquarie Group led the market, with defensive and healthcare stocks such as Telstra and Cochlear sliding.
The banks were all higher at the close.
NAB jumped 2.9 per cent to $23.08 - $1.58 above last Thursday's issue price for the institutional component of its $2.75 billion capital raising.
Westpac advanced 2.77 per cent to $20.78, ANZ gained 5 cents to $17.13 and Commonwealth Bank lost 15 cents to $40.02.
Macquarie Group added 98 cents, or 2.34 per cent, to $42.93.
The major miners were mixed.
BHP Billiton advanced 17 cents to $38.02 and rival Rio Tinto fell 34 cents to $59.40.
Oil stocks were also mixed.
Oil Search gained 17 cents to $5.80, Woodside firmed 3 cents to $44.53 and Santos easing 3 cents to $14.67.
Major gold stocks were mixed as the local spot price of gold edged higher.
Lihir Gold firmed 2 cents to $2.81, while dual-listed Newmont Mining gave 1.18 per cent to $5.03 and Newcrest Mining fell 32 cents to $30.43.
The spot price of gold in Sydney was $US954.45 per fine ounce, down $US2.95 on yesterday's close of $US957.40.
On the Sydney Futures Exchange, the September share price index contract was 26 points higher at 4139 points on 21,179 contracts.
