The S&P/ASX200 lifted by 5.7 points, or 0.07 per cent, to 7936.9 while the broader All Ordinaries were almost flat, down 0.8 points, or 0.01 per cent, to 8157.9.
"There hasn't been too much movement, although it is the third straight session of gains," CommSec market analyst Steven Daghlian told AAP.
"Last week was the best week for our market since late December after sinking into correction territory - that 10 per cent fall from a recent high in February - so we're kind of bouncing off that low point."
Eight of 11 sectors were in the red by market close, with consumer staples leading the losses after rolling off from their 3.9 per cent rally on Friday following a favourable competition regulator report.
On the flip-side of the consumer dollar, discretionary stocks rallied 1.1 per cent, led by Bunnings' owner Wesfarmers and pokies giant Aristocrat Leisure, each gaining more than 1.6 per cent.
Financials pushed the bourse higher, rising 1.0 per cent with solid performances from the big four banks as they continued to catch bids after slipping in late February and early March.
NAB was the best performer, up 2.2 per cent after spending last week in the doldrums, while ANZ won the most modest gains of 0.8 per cent.
Materials stocks closed 0.8 per cent lower as James Hardie shares tanked 14.7 per cent in the wake of a pricey merger announcement.
A UBS ratings upgrade also sent two miners in different directions, with Fortescue rallying 3.2 per cent on an upgrade to "neutral" as South32 gave up 1.1 per cent after a downgrade.
Oil prices have edged lower, following flagged production increases in Iraq and an expected production lift from fellow OPEC+ members.
Brent crude futures were trading about $US71.49 a barrel.
Bitcoin ticked up more than 3.8 per cent across the weekend and into Monday to trade about the $US86,850 level.
Looking ahead for the week, monthly Australian inflation data is due on Wednesday while Tuesday night's federal budget could provide some company-level interest, but is not historically a market-moving event.
"What's probably going to be more important for us locally is going to be the inflation data out on Wednesday," CommSec's Mr Daghlian said, noting last week's cooler-than-expected jobs report.
"It was the biggest monthly decline in jobs since December 2023, mostly full-time positions as well," he said.
The market was currently pricing in a 10 per cent chance the Reserve Bank would cut rates at its next meeting but a surprise in the inflation print could get markets talking, Mr Daghlian said.
It's also a big week for dividends with BHP, Fortescue, CBA and Telstra among companies delivering to shareholders.
Payouts don't move tickers as much as ex-dividend dates but could mean some extra money trying to find a home on the market.
The Australian dollar is buying 62.81 US cents, trading slightly lower than Friday afternoon's 62.89 US cents after a Monday morning rebound lost steam.
ON THE ASX:
* The benchmark S&P/ASX200 index rose 5.7 points, or 0.07 per cent, to 7936.9 on Monday
* The broader All Ordinaries was down 0.8 points, or 0.01 per cent, to 8157.9
CURRENCY SNAPSHOT:
One Australian dollar buys:
* 62.81 US cents, from 62.89 US cents at 5pm on Friday
* 94.02 Japanese yen, from 94.08 Japanese yen
* 58.00 euro cents, from 58.10 euro cents
* 48.60 British pence, from 48.65 British pence.
* 109.79 NZ cents, from 109.37 NZ cents
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