The S&P/ASX 200 Index (ASX: XJO) hit a near 7-month high on Thursday amid comments from United States Federal Reserve chair Jerome Powell. The index closed 0.96% higher at 7,354.4 points.
Powell indicated the United States central bank will likely ease up on rate hikes as it continues to battle soaring inflation, the Guardian reports.
Wall Street took off amid the chair's comments overnight. The Dow Jones Industrial Average Index (DJX: .DJI) rose 2.2%, the S&P 500 Index (SP: .INX) gained 3.1%, and the Nasdaq Composite Index (NASDAQ: .IXIC) lifted 4.4%.
Back home, the S&P/ASX 200 Materials Index (ASX: XMJ) led, soaring 2.6%.
The S&P/ASX 200 Real Estate Index (ASX: XRE) and the S&P/ASX 200 Utilities Index (ASX: XUJ) also outperformed, rising 1% and 1.1% respectively.
Meanwhile, the S&P/ASX 200 Energy Index (ASX: XEJ) dumped 0.8% despite stronger oil prices.
The Brent crude oil price gained 2.9% to US$85.43 a barrel overnight while the US Nymex crude oil price lifted 3% to US$80.55 a barrel.
All in all, nine of the ASX 200's 11 sectors closed higher on Wednesday. But which share recorded the biggest jump? Keep reading to find out.
Top 10 ASX 200 shares countdown
Gold company Ramelius Resources Limited (ASX: RMS) led the way on Wednesday, gaining 10.5% as gold stocks outperformed.
Today's biggest gains were made by these shares:
| ASX-listed company | Share price | Price change |
| Ramelius Resources Limited (ASX: RMS) | $0.945 | 10.53% |
| Block Inc (ASX: SQ2) | $99.96 | 7.38% |
| Pinnacle Investment Management Group Ltd (ASX: PNI) | $9.29 | 7.27% |
| South32 Ltd (ASX: S32) | $4.29 | 6.72% |
| Evolution Mining Ltd (ASX: EVN) | $2.86 | 6.32% |
| Xero Limited (ASX: XRO) | $74.99 | 6.16% |
| West African Resources Ltd (ASX: WAF) | $1.225 | 6.06% |
| Capricorn Metals Ltd (ASX: CMM) | $4.45 | 5.95% |
| Champion Iron Ltd (ASX: CIA) | $6.73 | 5.82% |
| Silver Lake Resources Limited (ASX: SLR) | $1.28 | 5.79% |
Our top 10 shares countdown is a recurring end-of-day summary to let you know which companies were making big moves on the day. Check in at Fool.com.au after the weekday market closes to see which stocks make the countdown.
