Evening Wrap: ASX 200 logs strong gain as bargain hunters drive tech, healthcare and consumer stocks higher

The S&P/ASX 200 (XJO) finished 61.5 points higher at 9,164.6, 0.68% from its session low and 0.17% from its high. For a change, the broader market participated in the benchmark index’s gain, as advancers beat decliners by a tidy 196 to 82 in the S&P/ASX 300 (XKO).

Information Technology (XIJ) (+2.2%) was the session’s best sector with the recovery in its two largest constituents – both victims of last year’s SaaSpocalypse – attracting its own momentum. WiseTech Global (WTC) (+4.6%) has now fully recouped the losses from the ACCC search warrant collapse and then some, and Xero (XRO) (+2.6%) is now well off its lows. Elsewhere, Nuix (NXL) (+12.3%) and Data#3 (DTL) (+5.8%) extended strong post-results momentum into a second session.

Information Technology (XIJ) sector index

Consumer Staples (XSJ) (+2.1%) was largely aided by Coles (COL) (+4.9%), which delivered a full-year result that beat expectations across almost every metric, with the supermarket’s cost discipline, private label momentum, and digital investment all coming through in the numbers. Agricultural names were an interesting cluster of intra-sector strength – growing strength as far as GrainCorp (GNC) (+3.5%) and Select Harvests (SHV) (+2.2%) are concerned. Elders (ELD) (+2.8%) also advanced.

Health Care (XHJ) (+1.4%) extended dream run that has reestablished the sector as one of the market’s leaders. Ansell (ANN) (+8.2%) continued its post-results surge into a second day. CSL (CSL) (+2.7%), ResMed (RMD) (+1.7%), and Cochlear (COH) (+1.5%) all firmed.

Health Care (XHJ) sector index

Financials (XFJ) (+0.9%) had its best session in fifteen trading sessions — an overdue recovery for a sector that had fallen over 10% since its August 5 peak. Insurance stocks were strongest, led by Suncorp (SUN) (+8.0%), but banks Judo Capital (JDO) (+6.7%) and Bendigo and Adelaide Bank (BEN) (+3.8%) were also solid.

Consumer Discretionary (XDJ) (+0.9%) benefited from a combination of rotational flows out of resources and a standout individual result. ARB Corp. (ARB) (+13.9%) surged after posting full-year results that impressed across revenue, margins, and international growth. Temple & Webster (TPW) (+6.0%) rebounded from recent weakness. Lovisa (LOV) (+5.2%) advanced ahead of its full-year results due tomorrow — the pre-results positioning suggesting market expectations are cautiously optimistic. Guzman Y Gomez (GYG) (+3.3%) also firmed.

Energy (XEJ) (-0.8%) was the session’s only clear negative sector as ICE Brent crude futures eased 0.8% to US$89.83/bbl — a consolidation after recent strength that was enough to trigger profit-taking across oil and gas producers. Viva Energy (VEA) (-3.2%), Woodside Energy (WDS) (-1.4%), Karoon Energy (KAR) (-1.4%), and Santos (STO) (-1.3%) all fell.

Energy (XEJ) sector index

Real Estate (XPJ) (-0.2%) remained in the doldrums. Scentre Group (SCG) (-2.5%), Mirvac (MGR) (-1.3%), and Stockland (SGP) (-1.3%) all eased — the sector continuing to absorb the structural headwinds of elevated benchmark bond yields and the mortgage market deterioration that has defined the past three weeks.

Materials (XMJ) (+0.3%) and the Gold Sub-Index (XGD) (+0.3%) both held modestly positive ground — consolidating rather than extending after six days of strong gains. COMEX gold futures edged up 0.2% to US$4,707.40/oz, approaching record territory, while SGX iron ore futures eased 0.8% to US$97.05/t.

Within Materials, Sandfire Resources (SFR) (+1.5%), Capstone Copper (CSC) (+1.4%), South32 (S32) (+1.2%), Rio Tinto (RIO) (+1.0%), and BHP (BHP) (+0.8%) all advanced modestly. Within gold, St Barbara (SBM) (+4.6%), Resolute Mining (RSG) (+2.2%), Westgold Resources (WGX) (+2.0%), and Evolution Mining (EVN) (+1.0%) were the notable movers.

In other commodity moves, lithium stocks reversed course sharply as GFEX lithium carbonate futures plunged 6% to CNY 150,280/t — the sharpest single-session decline in over a month — erasing two days of recovery gains with brutal efficiency. Liontown Resources (LTR) (-8.7%), Pilbara Minerals (PLS) (-6.0%), Elevra Lithium (ELV) (-5.8%), Wildcat Resources (WC8) (-5.8%), IGO (IGO) (-4.9%), and Core Lithium (CXO) (-3.8%) were all sharply lower.

Lithium Carbonate Futures (Benchmark month, back-adjusted) GFEX intraday chart. Source: SMM

Uranium stocks bucked the broader commodities stalemate, extending Monday’s surge as COMEX uranium futures edged up 0.2% to US$89.55/lb — now up 3.9% since the start of August. The Sprott Uranium Miners ETF gained 0.9% overnight, and local names tracked the global enthusiasm — Boss Energy (BOE) (+6.2%), Paladin Energy (PDN) (+5.7%), Deep Yellow (DYL) (+5.2%), and Bannerman Energy (BMN) (+4.1%) all advanced.