SYDNEY, AAP – Technology shares have enjoyed whopping gains as the Australian market rebounded from its biggest loss since February.

Technology shares gained 4.31 per cent and the biggest, Afterpay, gained 7.67 per cent to $93.10.

Commonwealth Bank shares rose 3.23 per cent to $98.40 and were best of the big four.

Property stocks were also serious improvers and increased by 2.58 per cent.

The benchmark S&P/ASX200 index closed up by 87.9 points, or 1.27 per cent, to 7019.6.

The All Ordinaries closed higher by 86.9 points, or 1.21 per cent, to 7252.6 points.

The Australian dollar was buying 77.52 US cents at 1621 AEST, lower from 77.89 US cents at Wednesday’s close.