The Australian sharemarket bounced decisively on Wednesday, shrugging off a nearly sideways session the previous day and delivering one of its strongest daily gains in weeks. The S&P/ASX 200 closed up 147.4 points, or 1.66%, at 9,014.8. It was a 50-day high and shows us renewed momentum across a broad range of sectors.
Figure 1: ASX Performance on 11 February 2026 [ASX]
Eight of the eleven ASX sectors finished higher. Financials led the way with a robust 3.48% gain, followed by Utilities at +2.42% and Materials at +2.11%. Consumer Discretionary, Information Technology, Industrials, Staples and Telecommunications also finished in positive territory, albeit with more modest rises.
On the downside, only three sectors closed in the red. Health Care suffered the sharpest pullback at -2.50%, weighed down by heavy selling in CSL Limited. Real Estate slipped 0.23%, while Energy was marginally lower at -0.02%, despite strong moves in some individual stocks within the space.
Figure 2: ASX Sector performance on 11 February 2026
Telco and utilities power the index higher
The standout performers of the day were Aussie Broadband (ASX: ABB) and AGL Energy (ASX: AGL), which topped the S&P/ASX 200 gainers list.
Aussie Broadband surged 14.79% to $5.20, its biggest single-day jump in recent months. The stock continued to ride the wave of investor enthusiasm following its landmark acquisition of AGL’s telco business, a deal that will significantly expand its customer base and elevate it to the third-largest NBN provider in Australia. Investors appear increasingly confident that the transaction will be earnings-accretive and strategically transformative for the company.
AGL Energy was up 11.75% finishing at $9.89. The energy giant benefited from strong reaction to its latest half-year results, which showed solid operational performance, improved customer margins, and clearer earnings guidance for FY26. Progress on large-scale battery projects and long-term renewable power agreements also reinforced confidence in AGL’s transition strategy.
Together, ABB and AGL contributed a meaningful chunk of the ASX 200’s overall rise, highlighting the renewed investor appetite for companies with both growth potential and clearer strategic direction.
Mining strength lifts Materials sector
The Materials sector also played a key role in Wednesday’s rally, helped by strong gains in gold miner Evolution Mining (ASX: EVN) and construction giant James Hardie (ASX: JHX).
Evolution Mining jumped 8.68% to $16.28, extending its remarkable run after reporting record half-year profits and a higher dividend earlier in the week. The stock has now delivered a staggering gain of more than 150% over the past year, vastly outperforming both the gold sector and the broader market.
James Hardie rose 10.92% to $36.87, reflecting renewed confidence in global construction demand and a more stable outlook for building materials markets. The stock’s move added further momentum to the Materials index, which finished the day up over 2%.
Banks drive Financials higher
The Financials sector’s strong 3.48% gain was largely driven by heavyweight banks, including Commonwealth Bank of Australia (ASX: CBA), which climbed 6.81% to $169.56. Investors appear to be pricing in resilient earnings for major lenders, supported by solid loan growth and still-elevated interest rates.
Health Care drags as CSL tumbles
Not all parts of the market shared in the optimism. Health Care was the worst-performing sector, dragged down by CSL Limited, which fell 11.00% to $163.44. The decline suggested some investors were rotating out of defensive healthcare names and into more cyclical sectors such as banks, resources and utilities.
Market near 52-week highs
With today’s surge, the ASX 200 is now just 1.10% below its 52-week high, a notable achievement given recent volatility in global markets. Over the past five trading days, the index has gained 0.97%, indicating that Wednesday’s rally was not an isolated spike but part of a gradually improving trend.
Investors Outlook
Wednesday’s session highlighted a clear shift in sentiment: money is moving back into growth-oriented stocks and sectors tied to infrastructure, energy transition, telecommunications and resources. The strength in utilities and materials suggests investors are favouring companies with tangible assets, long-term contracts and exposure to Australia’s energy transition.
If momentum continues, the ASX could soon challenge, and potentially break, its 52-week high, provided global markets remain supportive and earnings updates continue to meet expectations.
For now, Wednesday stands as a strong reminder that even after a quiet session, the ASX can spring back with conviction when the right catalysts align.
