The S&P/ASX200 rose 15.5 points on Wednesday, up 0.18 per cent, to 8,595.2, as the broader All Ordinaries gained 16.7 points, or 0.19 per cent, to 8,894.2.
The top-200 surged more than 40 points on the back of weaker-than-expected, but better-than-feared, September growth figures.
Ultimately it slumped to a modest gain as LSEG data pointed to a fully-priced 25 basis point interest rate cut by December 2026.
"Futures have priced out almost any chance of a further cut and imply the next move will be up, albeit not until the end of 2026," CBA head of Australian economics Ryan Felsman said.
"Looking ahead to next week's RBA meeting and today's GDP reinforce recent concerns over demand growth in the economy given the lower speed limits and potential upward pressure on inflation from here.
"We expect the cash rate to remain on hold in December and through 2026."
Despite the uninspiring market move, eight of 11 local sectors ended the session higher, led by utilities, real estate stocks and the tech sector.
Energy stocks and utilities outperformed the broader market, as oil prices edged higher amid deadlocked Ukraine-Russia peace talks.
Santos shares jumped 0.5 per cent to $6.55, while coal producers Whitehaven and Yancoal surged more than two per cent each.
Uranium stocks also caught a bid after China's state-owned uranium miner China National Uranium rocketed more than 300 per cent higher after listing on the Shenzhen Stock Exchange.
The heavyweight financials sector eked a 0.2 per cent lift, with ANZ leading the big four as its chief executive Nuno Matos was appointed to chair the Australian Banking Association.
Commonwealth Bank shares lagged positive performances from its big four counterparts, slipping 0.1 per cent to $152.05.
Insurers came under selling pressure, with Suncorp and QBE each notching losses of more than two per cent.
Raw materials gained a modest 0.3 per cent as BHP outshone its fellow iron ore giants, up 0.9 per cent to $42.96 as iron ore futures soared to 10-month highs near $107.80 a tonne on the back of steel price optimism.
Gold miners were mixed as the precious metal's spot price chopped around the $US4,208 ($A6,395) an ounce level. Evolution jumped 1.3 per cent, Northern Star traded just below flat and Newmont slipped 0.9 per cent lower.
Bellevue Gold was the top-200's best performer with a 6.3 per cent boost, followed by uranium play Paladin, which rallied more than five per cent.
At the other end of the table was network-as-a-service provider Megaport, which tumbled 6.3 per cent, while fellow tech stock and fintech Block dropped six per cent despite reporting a 10 per cent transactions boost during Black Friday.
Segment giant WiseTech shares rose 4.5 per cent after revealing artificial intelligence efficiencies to shareholders at an investor day, helping the tech sector swing from a pre-lunch slump to a 0.7 per cent improvement by the close.
The Australian dollar is buying 65.83 US cents, trading at three-week highs with help from the adjusted monetary outlook, and up from 65.53 US cents on Tuesday at 5pm.
ON THE ASX:
* The S&P/ASX200 rose 15.5 points, or 0.18 per cent, to 8,595.2
* The broader All Ordinaries gained 16.7 points, or 0.19 per cent, to 8,894.2
CURRENCY SNAPSHOT:
One Australian dollar trades for:
* 65.83 US cents, from 65.53 US cents at 5pm on Tuesday
* 102.49 Japanese yen, from 102.01 Japanese yen
* 56.54 euro cents, from 56.44 euro cents
* 49.73 British pence, from 49.59 British pence
* 114.39 NZ cents, from 114.44 NZ cents
