The S&P/ASX200 stormed into the weekend setting a fresh record closing high of 7.179.5, a gain of 1.2 per cent for the session.
A broad-based rally brought all stocks except those in the information technology sector higher, with financials and materials proving the standout performers.
Banking stocks gained 1.3 per cent as Commonwealth Bank shares returned above the $100 mark, while BHP led miners higher with a jump of 2.9 per cent to $48.16.
All this while Victoria shut down business operations across the state as part of a seven-day circuit breaker lockdown to contain coronavirus.
The strong session comes after a steady week of trading, filled with plenty of corporate news including multi-billion dollar takeover bids from the likes of Ramsay Health Care for UK hospitals operator Spire, as well as a $4 billion offer from Betmakers for Tabcorps wagering business.
Iron ore stocks followed overseas counterparts higher off the back of strong resources pricing, while real estate stocks also finished the day ahead 1.5 per cent.
The end of week rally puts the local bourse ahead 149.2 points, or 2.1 per cent higher, for the week overall.
South32 led the large cap gains in percentage terms for the day, up 5.6 per cent to $3.00.
WiseTech Global and Fisher and Paykel Healthcare were among the main decliners, losing 1.8 per cent and 1.7 per cent respectively.
