Australia's share market finished its first session for 2015 on a positive note, with gains across all sectors yesterday.
But Commsec chief economist Craig James cautioned against reading too much into the figures, as many traders extend their new year holiday into a long weekend.
"There is little you can write into the performance," he said.
"It is encouraging the market is starting the year in a positive fashion, but clearly it is on the back of low volumes."
The big four banks recorded mixed results while the big miners pulled the broader market higher.