ASX ends higher on banking, energy boost

ASX signboard reflection.
Bank shares were trading higher ahead of RBA's likely decision to lift the cash rate further. -AAP Image

The Australian share market has ended higher after posting losses for the past three sessions with investors' seemingly resolved to continuing rate increases and ongoing market volatility.

The benchmark S&P/ASX200 index ended 72.7 points, or 1.11 per cent higher, at 6,612.6 on Monday. 

The broader All Ordinaries rose 76.5 points, or 1.14 per cent, to 6,796.9.

Local investors took their cue from a solid session on Wall Street on Friday that saw the three main indices end higher ahead of a long weekend. The US market will be closed on Monday for the July 4 public holiday.

The heavyweight financial sector led the gains, with rises in energy, property and healthcare stocks also bolstering the indices.

Meanwhile, the Australian dollar has strengthened, buying 68.36 US cents at 1620 AEST, from 68.13 US cents at Friday's close.