Australian stock market continues winning streak

While the Australian dollar fell below 77 U.S. cents on Tuesday the local stock market recorded growth at the close of trading for the ninth day straight.

The Australian share market hit a six-and-a-half year high after the Reserve Bank cut the cash rate to a record low of 2.25 percent, energizing stock investors.

At the official market close, the benchmark S&P/ASX200 index was up 82.1 points, or 1.46 percent, at 5,707.4, while the broader All Ordinaries index rose 79.7 points, or 1.43 percent, to 5,666.2.

Energy stocks jumped, gaining 4.1 percent as a sector after oil prices lifted globally.

Beach Energy surged 15.59 percent and Oil Search lifted 4.39 percent. Santos lifted 2.62 percent, and Woodside Petroleum 3 percent.

Materials gained, adding 2.34 percent. BHP Billiton was up 3.55 percent, and Rio Tinto gained 1.93 percent.

Financial stocks lifted 1.48 percent across the sector.

ANZ lifted 2.22 percent, while the Commonwealth Bank grew 0.8 percent. Westpac lifted 1.18 percent and the National Australia Bank 1.63 percent.

Consumer staples were up 0.42 percent with Woolworths up 0.37 percent and Wesfarmers 0.43 percent.

Meanwhile, Telstra edged up 2.14 percent and Qantas fell 3.98 percent. Endi