At noon AEDT on Wednesday, the benchmark S&P/ASX200 index was up 7.5 points, or 0.1 per cent, to 7,522.4, while the broader All Ordinaries had risen 9.6 points, or 0.12 per cent, to 7,751.7.
The ASX200 was on track for its fourth straight session of gains, albeit marginally, despite seven out of 11 sectors being in the red.
The materials sector soared 1.3 per cent higher as several miners reported better-than-expected production results.
Pilbara Minerals jumped 6.7 per cent after the lithium miner beat production expectations, although the company announced it will cut capital expenditure and hold off on paying shareholders a dividend amid a protracted decline in aluminium prices.
Goldminer Northern Star was up 5.5 per cent after the company reaffirmed its guidance for the financial year following a slightly better-than-expected result for the second quarter.
Heavyweight iron ore miners Rio Tinto, BHP and Fortescue climbed 1.1 per cent, 1.2 per cent and 1.4 per cent, respectively.
Real estate companies also enjoyed solid gains.
Bunnings landlord BWP Trust slid 1.4 per cent after announcing it had reached a merger agreement with Newmark Property, which shot up 38 per cent.Â
As part of the deal, BWP will pay $246.8 million to Newmark shareholders, representing a 43 per cent premium.
Newmark chairman Michael Doble welcomed the offer, citing the "compelling" opportunity to participate in a larger merged group with lower gearing, given the high interest rate environment.
Oil and gas giant Woodside climbed 0.2 per cent after reporting record production for 2023.
But the Perth-based company's production guidance of 185 -195 mmboe for 2024 fell below analyst estimates and will likely lead to downward revisions, RBC Capital Markets analyst Gordon Ramsay said.
Healthcare company Nanosonics suffered the biggest losses on the market.
The disinfectant manufacturer plunged by more than a third to $2.88 - its lowest level in five years - after reporting softer-than-expected sales in the second half of 2023.
Online retailer Kogan rocketed 16.5 per cent higher after increasing profitability to beat earnings expectations for the first half of the financial year.
The "big four" banks were all down.
CBA fell 0.6 per cent, NAB dropped 0.5 per cent, Westpac weakened 0.3 per cent and ANZ was 0.2 per cent lower.
Across the ditch, New Zealand inflation figures slowed in the fourth quarter to 4.7 per cent, in line with consensus estimates but below the Reserve Bank NZ's forecast.
JPMorgan Australia and New Zealand chief economist Ben Jarman expects annual headline inflation to be close to the central bank's target band by the middle of the year.
"RBNZ Chief Economist Conway speaks next week, and we expect will have to start laying the foundations for a shift in the RBNZ's narrative given how out of market the November projections now sit," he said in a note.
The Australian dollar was buying 65.81 US cents, from 66.02 US cents at Tuesday's ASX close.
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