Australia’s share market has closed at an eight-month high for the second consecutive session after promising results for a coronavirus vaccine.

The S&P/ASX200 benchmark index closed up 41.7 points, or 0.66 per cent, to 6340.5 on Tuesday.

The index reached a session high of 6438.2 in the first 20 minutes of trade, then eased.

The All Ordinaries gained 28.3 points, or 0.43 per cent, to 6544.0.

There was a whopping gain of 8.54 per cent for the energy sector, as traders hoped a coronavirus vaccine would later help people to travel more.

Pfizer prompted a rally on global markets after it said its experimental vaccine was more than 90 per cent effective in preventing COVID-19.

The Aussie dollar was buying 72.82 US cents at 1619 AEDT, down from 72.94 US cents at Monday’s close.