The Australian sharemarket extended declines for the third consecutive session on Tuesday, dragged lower by several heavyweights trading ex-dividend, though gains among major banks helped limit losses.
The S&P/ASX 200 Index closed 27.1 points or 0.3% lower at 8,900.6, with nine of the 11 sectors finishing in the red.
Consumer discretionary stocks led the declines as Wesfarmers traded ex-dividend, closing 2.9% lower. JB Hi-Fi fell 1.7%, Aristocrat Leisure lost 0.7%, Domino’s dipped 0.8%, and Guzman y Gomez slipped 3.9%.
Consumer staples were another weak spot, weighed down by Woolworths, down 3.1% as it traded ex-dividend. Coles fell 0.2%, Metcash lost 0.7%, and Endeavour retreated 2.9%.
In contrast, financials provided the strongest support. Commonwealth Bank gained 0.9%, National Australia Bank advanced 1%, and Westpac climbed 0.8% after its Business and Wealth update, reporting that business lending in its business banking division had risen 15% in the year to June, generating a 19% return on tangible equity.
Among individual stocks, Collins Foods surged 7% after reporting a 6.7% lift in total sales over the first 18 weeks of FY26 and reaffirming its full-year guidance.
PolyNovo jumped 10.3% after highlighting its position to benefit from proposed changes to U.S. Medicare reimbursement rules for outpatient wound care.
On the bond markets, yields moved higher, with 10-year rates up 0.7% to 4.363% and 2-year rates 0.3% higher at 3.379%.
