The S&P/ASX 200 Index (ASX: XJO) defied its earlier downturn to close higher after the Reserve Bank of Australia (RBA) lifted interest rates for a fourth consecutive month. The index was 0.07% higher at 6,998.10 points at Tuesday's close.
The RBA hiked rates by a further 50 basis points today, bringing Australia's official cash rate to 1.85% in another bid to dampen inflation, which reached 6.1% over the year to 30 June.
The benchmark index lifted out of its earlier slump immediately after the RBA released the outcome of its August meeting. It was driven higher by S&P/ASX 200 Consumer Discretionary (ASX: XDJ) shares and S&P/ASX 200 Consumer Staples (ASX: XCJ) shares. The sectors gained 1.5% and 1.2% respectively today.
Meanwhile, the S&P/ASX 200 Real Estate Index (ASX: XRE) suffered a 1.6% slump and the S&P/ASX 200 Materials Index (ASX: XMJ) fell 1.1%.
All in all, eight of the ASX 200's 11 sectors ended today's trade in the green. But which ASX shares outperformed all others on Tuesday? Keep reading to find out.
Top 10 ASX 200 shares countdown
After a brief hiatus from the top spot, Zip Co Ltd (ASX: ZIP) has retaken the crown. The buy now, pay later (BPNL) stock lifted 15% on Tuesday to close at $1.22. Find out what Zip has been up to here.
Today's biggest gains were made by these ASX shares:
| ASX-listed company | Share price | Price change |
| Zip Co Ltd (ASX: ZIP) | $1.22 | 15.09% |
| A2 Milk Company Ltd (ASX: A2M) | $4.90 | 7.93% |
| St Barbara Ltd (ASX: SBM) | $1.22 | 5.17% |
| Ramelius Resources Limited (ASX: RMS) | $1.03 | 4.57% |
| De Grey Mining Limited (ASX: DEG) | $0.94 | 3.87% |
| West African Resources Ltd (ASX: WAF) | $1.37 | 3.79% |
| Telix Pharmaceuticals Ltd (ASX: TLX) | $7.34 | 3.38% |
| Breville Group Ltd (ASX: BRG) | $21.62 | 3.25% |
| JB Hi-Fi Limited (ASX: JBH) | $43.61 | 3.1% |
| Eagers Automotive Ltd (ASX: APE) | $12.69 | 3% |
Our top 10 ASX 200 shares countdown is a recurring end-of-day summary to ensure you know which companies were making big moves on the day. Check in at Fool.com.au after the market has closed during weekdays to see which stocks make the countdown.
