The share market is higher as investors shrug off further falls on overseas markets and pounce on cheaper stocks.
The market is around half a per cent higher, and on track to finish in the black for the fourth consecutive session.
That is in sharp contrast to the US, where equities have sold off heavily this week.
“It seems there is a little bit of a de-coupling in terms of the performances we’ve seen on the ASX and US equity markets at the moment,” OptionsXpress market analyst Ben Le Brun said.
Investors were taking advantage of recent slides to snap up stocks at relatively cheap prices, he said.
“The bargain hunters are out in force,” Mr Le Brun said.
The big four banks were among the best performers.
Commonwealth Bank was up 59 cents at $76.52, ANZ was up 32 cents at $31.90, Westpac had lifted 41 cents to $33.15 and National Australia Bank was 28 cents higher at $33.16.
Among the miners, BHP Billiton was up one cent at $33.34, Rio Tinto had dropped 40 cents to $59.49 and Fortescue Metals was three cents weaker at $3.39.
Oil and gas producer Santos was 14 cents higher at $12.77 after reporting a lift in September quarter production and sales revenue.
Telstra was three cents weaker at $5.40.
KEY FACTS
* At 1215 AEDT on Friday, the benchmark S&P/ASX200 index was up 22.6 points, or 0.43 per cent, at 5,277.5 points.
* The broader All Ordinaries index was up 22.4 points, or 0.43 per cent, at 5,266.7 points.
* The December share price index futures contract was up 31 points at 5,262 points, with 21,999 contracts traded.
* National turnover was 704 million securities worth $1.9 billion.
