The Australian sharemarket finished lower on Wednesday, extending declines to fresh five-month lows as losses across the Financial, Utilities and Technology sectors outweighed strength in Energy and Materials.
The S&P/ASX 200 fell 21.20 points or 0.25% to 8,447.9, with seven of the 11 sectors in the red.
The muted session followed a sharp selloff the day prior, when A$60 billion in market value was wiped out amid mounting nerves ahead of Nvidia’s earnings, due on Thursday morning AEDT.
Materials led the market higher with BHP, Rio Tinto and Fortescue Metals Group gaining 0.1%, 0.2% and 1.6%, respectively.
Gold prices firmed on renewed safe-haven demand, sending Northern Star up 2.9%, while Evolution Mining climbed 2% and Newmont rose 1.3%.
Crude oil prices also gained around 1% overnight as markets prepared for deeper disruptions to Russian supply.
Woodside rose 1.2%, Santos gained 0.8%, and Beach Energy added 0.4%.
The Technology sector ended 0.5% lower overall, with Codan down 3.9%, Life360 falling 0.8%, while WiseTech Global edged up 0.4% and Xero gained 0.3%.
However, renewed caution across the broader market weighed heavily on the major banks, with Commonwealth Bank down 1.3%, National Australia Bank falling 0.7%, Westpac down 1.4%, and ANZ retreating 2%.
Among individual companies, DroneShield slumped 19.6%, leading index declines following the sudden resignation of its U.S. chief executive Matt McCrann, effective immediately.
Nufarm surged 10.8% after markets welcomed its upgraded 2026 guidance, which signalled strong earnings momentum.
Webjet jumped 16.6% after the company received a takeover bid from Helloworld and reported mixed results for the first half of the 2026 financial year.
KMD Brands, owner of Kathmandu rose 2.1% after reporting that first-quarter group sales increased 7.9% year-on-year for the August–October period.
On the bond markets, yields eased, with 10-year and 2-year Australian government bond rates down 0.3% and 0.4% to 4.422% and 3.655%, respectively.
