Australian shares surge as banks, miners rally

The heavyweight materials and financial sectors have invigorated the broader market. (Steven Saphore/AAP PHOTOS)

Australia's share market has rallied to within one per cent of its best close in a session that almost reduced September's losses to a memory.

The benchmark S&P/ASX200 soared 100.2 points, or 1.13 per cent, to 8,945.9 on Thursday as the broader All Ordinaries jumped 103.7 points, or 1.13 per cent, to 9,240.3.