ASX 200 Soars on Bullock Speech and Falling Oil Prices

The Australian stock market saw a significant boost on Tuesday, July 28th, as the ASX 200 index rose 53.8 points or 0.60 percent to close at 8947.80.

This gain was driven by a key speech from Reserve Bank governor Michele Bullock and a drop in oil prices.

The broader All Ordinaries index also advanced, increasing by 48.2 points or 0.53 percent to 9112.00.

The Australian dollar fell to 69.70 US cents during trading.

Consumer discretionary stocks led the gains, with Wesfarmers up 2.08 percent to $89.22 and JB Hi-Fi rising 2.20 percent to $78.15.

The healthcare sector also performed well, with CSL gaining 2.69 percent to $119.52 and ResMed up 3.39 percent to $28.95.