The Australian sharemarket finished little changed on Tuesday after the Reserve Bank of Australia left the cash rate unchanged at 4.35%, with gains in energy and banking stocks largely offsetting weakness in technology and consumer discretionary shares.
The S&P/ASX 200 Index edged down 3.7 points to close at 8,917.7, with five of the 11 sectors finishing higher and six ending lower.
Trading was relatively subdued following the RBA's widely anticipated decision to leave interest rates unchanged after three consecutive rate increases earlier this year.
Speaking at her post-meeting press conference, Reserve Bank Governor Michele Bullock revealed the Monetary Policy Board did not consider another rate increase during its June meeting.
When asked whether a rate rise had been discussed, Bullock replied: “no, we didn’t”.
Pressed on the outlook for monetary policy and the divergence in market expectations, Bullock said economists currently hold a wide range of views on the direction of interest rates.
She attributed the differing forecasts to a “difference in opinion and judgment” regarding the relative importance of slowing economic growth versus persistent inflation pressures.
The Consumer Discretionary sector led the market lower, with investors rotating away from more economically sensitive sectors.
Wesfarmers fell 1.1%, while gaming technology company Aristocrat Leisure declined 1.6%. Automotive retailer Eagers Automotive dropped 2.3%.
Information technology stocks also weighed on the benchmark index. WiseTech Global fell 4.2%, Xero lost 1.7%, and TechnologyOne declined 2.0%.
In contrast, the Energy sector rebounded after recent weakness, supported by stabilising oil prices.
Santos gained 0.8%, Woodside Energy rose 2.0%, and Viva Energy advanced 1.4%, making energy the strongest-performing sector of the day.
One notable exception within the sector was Karoon Energy, which plunged 11.6% after downgrading its 2026 production outlook.
The company revised its guidance after receiving confirmation from Who Dat Joint Venture operator LLOG Exploration Company that a key production restart project would be delayed until at least 2027.
Financial stocks also provided support for the broader market.
Commonwealth Bank gained 0.1%, National Australia Bank rose 1.2%, Westpac added 1.2%, and ANZ advanced 0.9%.
Among individual companies, Southern Cross Electrical Engineering was one of the session's standout performers, surging 19.9% after emerging from a trading halt.
The engineering services group announced a $150 million institutional placement priced at $4.00 per share, with the capital raising attracting strong support from both existing and new investors.
On the bond markets, Australian government bond yields moved lower following the RBA decision; the 10-year government bond yield fell 0.4% to 4.829%, while the two-year yield declined 1.8% to 4.478%.



