ASX closes lower with heavy losses in technology and healthcare; energy emerges as rare bright spot

Australian shares ended sharply lower on Tuesday, March 3, with the S&P/ASX 200 falling 123.60 points, or 1.34%, to close at 9,077.30. The sell-off marked one of the index’s weaker sessions in recent weeks, despite it remaining up 0.61% over the past five trading days and just 1.36% below its 52-week high. Heavy losses in technology and healthcare stocks dragged on the benchmark, while gains in energy provided limited support.

Top Losers and Gainers

Losses were led by Life360 Inc., which plunged 17.64% to 20.36, making it the worst-performing stock on the index. Pro Medicus Limited also came under pressure, sliding 9.03% to 114.28. Other notable decliners included Liontown Limited, down 9.01%, Neuren Pharmaceuticals Limited, which fell 8.79%, and Capstone Copper Corp., down 8.09%.


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On the upside, Magellan Financial Group Limited surged 21.87% to 10.31, leading the day’s gainers. New Hope Corporation Limited rose 7.37% to 5.10, while Yancoal Australia Limited added 4.85% to 6.49. Light & Wonder Inc. gained 3.56%, and Ampol Limited climbed 3.17%.

Sector-wise performance

Sector-wise, materials led the declines, dropping 3.09%, followed by consumer discretionary stocks, down 2.80%, and information technology, which fell 2.17%. A-REITs and healthcare also ended lower, slipping 2.05% and 1.41% respectively. Energy was the lone bright spot, rising 1.41%, while financials, utilities, telecommunications services and industrials posted more modest losses.

Overall, Tuesday’s session highlighted growing volatility across sectors, with sharp stock-specific moves outweighing broader market resilience seen over the past week.