ASX investors have returned to gains on a broad-based rally as the financial and materials sectors gained more than one per cent.

The S&P/ASX200 benchmark index closed higher by 70.7 points, or 1.08 per cent, to 6588.5 on Tuesday.

The All Ordinaries closed higher by 70.1 points, or 1.04 per cent, to 6812.2.

The ASX result defied losses on US markets, however analysts attributed the latter to investors taking profits at the end of the month.

The Aussie dollar was buying 73.69 US cents at 1622 AEDT, lower from 73.88 US cents at Monday’s close.