S&P/ASX 200 continues to extend gains as Australian shares rally, miners and banks lead momentum; check top gainers-losers and best performing sectors

Australian Sharemarket News: Australian shares extended gains to Wednesday, with the S&P/ASX 200 adding 70.70 points, or 0.80%, to 8,927.80. The sharemarket continued the momentum as ⁠miners rallied on a recovery in gold and copper prices. Banks provided the further boost as they reversed from early losses driven by concerns around a higher interest ‌rate outlook.

According to the ASX website, the top-performing stocks on the broader index were YANCOAL AUSTRALIA LIMITED and SILEX SYSTEMS LIMITED, up 9.00% and 6.69%, respectively. “Over the last five days, the index is virtually unchanged but is currently 2.06% below its 52-week high,” the website stated. The S&P/ASX ‌200 rose 0.9% on Tuesday, posting its best session ‌since mid-November.

Miners see gains

Heavyweight miners advanced 3.7% in their strongest session since early April 2025, according to news agency Reuters. The sub-index lost 5% over Friday and Monday following a sharp drop in gold and sharp swings in base metals.

BHP and Rio Tinto surged more than 4% each to notch new all-time highs, logging their best session in over seven months. Prices of copper, a key metal for energy transition, ‌jumped on reports ‍that China was planning to expand its strategic reserves. Gold miners ‍also soared over 4% as bullion prices climbed on ‌dip-buying.

Banks slip and recover

Meanwhile, banks slipped as much as 1.7% in early trade but recovered through the ‍day to end ⁠1% higher, Reuters reported. Major lenders ⁠gained between 0.8% and 2.6%. The Reserve Bank of Australia raised its cash rate to 3.85% on Tuesday, with markets wagering further rate hikes may be needed to rein in inflation.

S&P/ASX 200: Top gainers and losers

The S&P/ASX 200 recorded notable movements across several stocks, with strong gains seen in the resources and energy space. Yancoal Australia Limited led the advance, closing at $6.300 after rising $0.520, or 8.996 per cent. Silex Systems Limited also finished higher, ending the session at $7.020, up $0.440, representing a gain of 6.686 per cent.

South32 Limited posted solid gains, with its shares last trading at $4.790, up $0.280, or 6.208 per cent. Northern Star Resources Ltd followed, climbing $1.660 to close at $28.550, marking a 6.173 per cent increase. Regis Resources Limited rounded out the top five gainers, advancing $0.450 to $8.160, a rise of 5.836 per cent.

On the downside, technology stocks dominated the declines. Xero Limited recorded the sharpest fall, dropping $15.280 to $80.820, a decline of 15.901 per cent. HUB24 Limited also came under heavy pressure, falling $10.600 to $88.010, down 10.750 per cent.

WiseTech Global Limited slipped $6.130 to close at $51.250, a fall of 10.684 per cent, while Technology One Limited ended at $22.650 after shedding $2.650, or 10.475 per cent. News Corporation closed lower as well, declining $4.250 to $40.670, representing a drop of 9.462 per cent.

Sector-wise performance

More sectors ended lower than higher, despite the gain in the S&P/ASX 200 Index. Materials was the best-performing sector, gaining +3.53% and rebounding from its recent decline. This sector is off -0.69% for the past five days.

Elsewhere, technology stocks tumbled 9.4%, real estate stocks dropped 1.2%, and consumer discretionary stocks declined 1.1%.