Australia's share market finished its first session for 2015 on a positive note, with gains across all sectors yesterday.
But Commsec chief economist Craig James cautioned against reading too much into the figures, as many traders extend their new year holiday into a long weekend.
"There is little you can write into the performance," he said.
"It is encouraging the market is starting the year in a positive fashion, but clearly it is on the back of low volumes."
The big four banks recorded mixed results while the big miners pulled the broader market higher.
Commonwealth Bank was up nine cents at A$85.74, NAB had dropped four cents to A$33.56, ANZ had found 14 cents to A$32.23, and Westpac increased by 11 cents to A$33.27.
In resources, global miner BHP Billiton rose by 17 cents to A$29.54, Rio Tinto found 33 cents to A$58.33 and iron ore pure play Fortescue added nine cents, or 3.28 per cent, to $2.83.
Gold mining junior Beadell Resources's added three cents, or 13.3 per cent, to 25.5 cents even though its gold sales for 2014 were below guidance.
Telstra shares were steady at A$5.97 each.
Meanwhile, CoreLogic RP Data figures showed capital city home values rose by 0.9 per cent in December, for an increase of 7.9 per cent in 2014.
Sydney led the way with prices up by a whopping 12.4 per cent in the year, but were flat in December.
• At the close yesterday, the benchmark S&P/ASX200 index was 24.9 points, or 0.46 per cent, higher at 5435.9.
• The broader All Ordinaries index was up 26.4 points, or 0.49 per cent, at 5415.0.
• The March share price index futures contract was 22 points higher at 5405, with 11,187 contracts traded.
• National turnover was 737.2 million securities worth $1.53 billion.