The share market has gained ground despite another fall in iron ore prices denting the resources sector.

The market pushed higher throughout the day, as the banks, retailers and healthcare stocks rose.

CMC Markets strategist Michael McCarthy said mining and oil and gas stocks were the worst performing sectors.

“Anticipation of significant stimulus from the ECB and possibly the Bank of Japan, combined with the lower level of the Australian dollar, has lifted the international participation in our market,” he said.

Overseas investors were chasing hard assets and dividend yields, and the weaker currency was also driving support for companies with overseas earnings, Mr McCarthy said.

“That’s one of the key drivers of support, particularly for the health sector,” he said.

Medical device maker ResMed was among the best performers, with its shares jumping 58 cents, or 7.4 per cent, to $8.38 following a better than expected quarterly earnings report on Friday.

CSL gained $1.07 to $86.42 and Ramsay Health Care added $1.38 to $59.73.

In resources, Fortescue Metals lost five cents, or 2.3 per cent, to $2.08, after earlier hitting a five year low of $1.92.

BHP Billiton dropped 43 cents to $28.95 and Rio Tinto shed six cents to $56.80.

In the energy sector, Santos fell 24 cents to $7.56, Woodside lost 15 cents to $34.25 and Oil Search was 27 cents weaker at $7.66.

Among the banks, Commonwealth Bank was up $1.40 at $87.63, Westpac gained 24 cents to $34.56, National Australia Bank firmed 38 cents to $35.15 and ANZ added 37 cents to $32.57.

Telstra gained 10 cents to $6.44.

KEY FACTS

* At the close on Tuesday, the benchmark S&P/ASX200 index was up 45.4 points, or 0.83 per cent, at 5,547.2 points.

* The broader All Ordinaries index was up 43.3 points, or 0.79 per cent, at 5,511.5.

* The March share price index futures contract was 45 points higher at 5,491, with 29,003 contracts traded.

* National turnover was 1.8 billion securities worth $5.5 billion.