SYDNEY, AAP – Australian shares have closed higher for a seventh consecutive day – a feat not seen in 15 months.

The market gained 0.67 per cent the day after a federal budget which pledged to put more cash in consumers’ pockets and halve the fuel excise for six months.

Technology shares were best for a second straight day and gained three per cent.

The benchmark S&P/ASX200 index closed up 50.2 points, or 0.67 per cent, to 7514.5 on Wednesday.

The index was a little more than 100 points from its record of August.


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The All Ordinaries index closed higher by 52.9 points, or 0.68 per cent, to 7799.9.

The Australian dollar was buying 75.25 US cents at 1620 AEDT, higher from 74.83 US cents at Tuesday’s close.