At 12.00pm (AEDT), the benchmark S&P/ASX200 index was up 50.3 points, or 1.5 per cent, at 3398.7, while the broader All Ordinaries index had added 47.7 points, or 1.45 per cent, to 3345.
Burrell Stockbroking associate Peter Wright said investors were still wary about the economic outlook, but strength in commodity prices was buoying the market.
"The volumes are underwhelming again,'' Mr Wright said.
"But this will be six days in a row now, if we hold today's rally. That hasn't happened for a long time, albeit off a low volume, albeit off a low base, but it is still encouraging.''
The big miners were stronger, with market leader BHP Billiton up 52 cents, or 1.68 per cent, at $31.52, and Rio 63 cents or 1.24 per cent higher at $51.38.
"A lot of this is off the back of commodity prices,'' Mr Wright said.
Healthy thermal coal prices had sparked optimism of similar outcomes for coking coal and iron ore, he said.
"It could pull up well short of the disaster scenario that has been priced into a lot of those stocks,'' Mr Wright said.
On the Sydney Futures Exchange, the March share price index futures contract was 31 points higher at 3401 on a volume of 108,531 contracts.
More to come.
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