SYDNEY, AAP – Investors are ahead for October after a second consecutive week of gains on the ASX.

A broad-based rally on Friday ensured momentum has steadied following four consecutive weeks of losses recently.

Technology and materials shares were the best performers in the latest session.

The benchmark S&P/ASX200 index closed higher by 50.3 points, or 0.69 per cent, to 7362.

The All Ordinaries ended up 54 points, or 0.71 per cent, to 7674.2.

The market gained 0.57 per cent for the week.

The Australian dollar was buying 74.25 US cents at 1621 AEDT, up from 73.86 US cents at Thursday’s close.