The Australian share market recorded an increase of 0.6 per cent. The banks and resources stocks were seen on a high which nearly reversed the market conditions of last week.

At noon the benchmark S&P/ASX200 index was at 4,681 with an up of 30.5 points or 0.66 per cent. Low volume continued its trend; new rise is hoped around New Year.

National Australia Bank and Commonwealth Bank both were on highs with the former rising by 49 cents or 1.89 per cent making it to $26.48, with the latter at $52.96 with a rise of 0.19 per cent

ANZ Banking Group at $21.36 also gained two cents. Whereas, Westpac lost one cent to $23.48.

Next, the resources managed to record some significant rises as well. The BHP Billiton jumped 86 cents or 2.12 per cent to $41.46 with the rival also going 4 cents higher to$71.13.

Gold and other metals also rose higher with Lihir Gold at $3.19which added 2.24 per cent and Newcrest picked up 1.69 per cent to $34.76.

Retail sector also fared well with a surprising rises. Department store David Jones surged 1.71 per cent to $5.34, while rival Myer gained 0.81 per cent to $3.71, JB Hi-Fi fell 0.35 per cent to $22.26, and Harvey Norman swelled 0.71 per cent to $4.24.

The breach of 324 Million Loan affected the RHG Group with its shares falling by 7.08 per cent to 59 cents.