The S&P/ASX 200 ended the year at 8159.1 and rose 7.5% in 2024. That fell short of the index’s 7.8 per cent gain in 2023. The index had been on track to book its highest gain since 2021, when shares rose 13 per cent during the COVID-19 pandemic.

Zip Co Ltd was Australia's best performer this year, with its share price soaring by 366 per cent from 64 cents to $2.96. That means someone who invested $10,000 into this stock would have turned that into $46,600.

Technology and healthcare stocks made up the top five positions this year, with Life360, Sigma Healthcare, Pro Medicus and Telix Pharma dominating the honours list.

Here’s a look at the top 10 ASX 200 gainers in 2024:

LIFE360 INC-CDI , a family safety and location sharing app, surged by 198 per cent from $7.56 to $22.54.

Pharmacy chain SIGMA HEALTHCARE LTD , that owns Amcal and is merging with Chemist Warehouse, was the third best performer with its share price soaring by 163 per cent from $1 to $2.62.

PRO MEDICUS LTD , Australia's best performer during the 2023-24 financial year when it doubled in value, did even better in 2024. The medical imaging company's share price soared by 162 per cent this year from $95.83 to $250.12.

TELIX PHARMACEUTICALS LTD rounded out the top five list, also more than doubling as its share price climbed by 144 per cent from $10.08 to $24.61.

Australia's best performing stocks vastly outperformed the broader share market with the benchmark S&P/ASX200 edging up by 7.5 per cent during the past year to 8,159 points.

The Australian Securities Exchange hit a record high in early December, with the Commonwealth Bank and Westpac soaring by a third in 2024 as investors forgot about the banking royal commission.

But the market has since retreated by 3.3 per cent, after losing $50billion in one day as investors worried about the US Federal Reserve not cutting interest rates as deeply as earlier thought.