SYDNEY, AAP – Shares have climbed to a record closing high on the Australian market after a broad-based rally.

The ASX200 closed higher than 7300 points for the first time after the market gained almost half a per cent on Thursday.

Property and technology shares performed best and rose by more than two per cent.

Most of the major players in banking and mining struggled to make substantial gains.

The benchmark S&P/ASX200 index closed higher by 32.3 points, or 0.44 per cent, to 7302.5.

The All Ordinaries closed up by 36.8 points, or 0.49 per cent, to 7558.8.

The Australian dollar was buying 77.40 US cents at 1620 AEST, lower from 77.42 US cents at Wednesday’s close.