Day traders' after-market lounge March 27

Thanks afternoon crew.

End-of-day summary:

The ASX 200 closed above 7800 for only the third time after annual inflation held steady for a third month.

The Australian benchmark rallied 39 points or 0.51% to 7820, reversing yesterday's loss. The rally brought index back to within 34 points of its all-time high set earlier this month.

Gains in the major supermarkets, South32, CSL and most of the banks helped offset down-pressure from some of the iron ore miners as ore prices in China sagged 3.7%.

The market overcame negative leads from the US after mid-morning data showed headline annual inflation held at 3.4% last month, ahead of expectations for a rise to 3.5%. Overnight, the S&P 500 declined 0.28% to a third straight loss.